According to WSJ, citing people familiar with the matter, U.S. Treasury Secretary Vincent Bescent has named Britain, Australia, South Korea, India, and Japan as top targets for the trade deal, following President Trump's announcement of a wave of tariffs, including on those countries.
The source explained that Bescent told allies that those countries were among his top targets, and that he had been in contact with officials in those countries.
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Nick Timiraos: Fed governor Paul Waller still sounds more dovish than his colleagues, who mostly stress the importance of defending low inflation expectations no matter what - with little discussion of the response function.
Federal Reserve Governor Paul Waller said the new tariff policy is one of the biggest shocks to the U.S. economy in decades. I think the high inflation caused by tariffs will be temporary. If the current average tax rate of 25% is maintained for a while, the...
JPMorgan Chase: lowered its forecast for Brent crude oil price in 2025 to $66 per barrel, from $73 previously; adjusted its Brent crude oil price target in 2026 to $58 per barrel, from $61 previously.
Federal Reserve Governor Paul Waller: In a large-scale tariff scenario, if there is a significant economic slowdown, I would prefer to cut interest rates earlier and more sharply than previously thought.
Federal Reserve Governor Waller: If the current average tax rate of 25% is maintained for a period of time, inflation may peak at a level close to 5%; in the case of falling to 10%, inflation may peak at 3%.