News

Federal Reserve Chairman Warsh: The president has never asked me to do anything inappropriate, and even if he did, I would not do it.

Fed Chairman Warsh: I would not feel uncomfortable receiving a call from Trump or the Chairman of the Banking Commission.

Federal Reserve Chairman Warsh: We see the impact of artificial intelligence on demand faster than its impact on supply.

Federal Reserve Chairman Warsh: I have strictly abided by and exceeded my ethical agreement to sell or will soon completely sell assets acquired before I became chairman of the Federal Reserve. I have switched investments to cash equivalents and short-term Treasury bills.

Mehran Kamrava, a professor of government at Georgetown University in Qatar, pointed out that the Iranian government is "deliberately" announcing the news that seven soldiers were killed in the US attack, trying to unite national sentiment and consolidate public support during the war. He said that Iran is experiencing a resurgence of nationalism, and the authorities aim to maintain public support for the regime by emphasizing the sacrifice of soldiers for the country. Such support is crucial as Iran is mired in high inflation, high unemployment and economic losses of up to $270 billion. Kamrava believes that Iran knows that it cannot compete with the United States militarily, so it is shifting the focus of the conflict to the economic field. Attacks on shipping are a manifestation of this strategy. The United States may also respond with similar measures. He pointed out: "Revolution cannot happen in hunger. When people start to worry about their next meal, basic security and shelter, the United States may try to exhaust Iran's economic capabilities."

According to The Information: A future version of Apple's (AAPL.O) AI server chip "Baltra" was originally scheduled to be shipped this year, but has been postponed.

Federal Reserve Chairman Warsh: It is inappropriate to prejudge the content of the meeting without factual basis.

Federal Reserve Chairman Warsh: The issue of the Bowman Bank meeting will be handled by the Federal Reserve Inspector General. There will be great interest in what the inspector general finds out about Bowman's dinner with the bank after the FOMC meeting.

According to The Information: Apple's (AAPL.O) self-developed M2 Ultra chip proved insufficient to run advanced AI workloads, forcing Apple to rely on Nvidia.

According to The Information: Apple (AAPL.O) is seeking to acquire artificial intelligence chip companies.

Federal Reserve Chairman Warsh: Investment in artificial intelligence could be very good for jobs because we are building infrastructure.

EIA distillate fuel production extended demand data in the United States for the week to July 10 was 4.7011 million barrels per day, compared with the previous value of 5.9854 million barrels per day.

EIA total automotive gasoline production extended demand data in the United States for the week to July 10 was 9.8097 million barrels per day, compared with the previous value of 9.8709 million barrels per day.

The EIA crude oil production extended demand data for the week to July 10 in the United States was 19.792 million barrels per day, compared with the previous value of 19.061 million barrels per day.

The EIA Strategic Petroleum Reserve inventory in the United States for the week to July 10 was -2.985 million barrels, compared with the previous value of -6.166 million barrels.

Fed's Williams: It is not appropriate to provide forward guidance at this time.

Fed's Williams: The rise in medium-term inflation expectations in the New York Fed survey does not "send a warning signal."

Alibaba (BABA.N) expanded its gains to 7%.

The Bank of Canada has removed any reference to a rate cut.

Bank of Canada Governor Macklem: Uncertainty is high and we are prepared to adjust policy interest rates as needed.