News

Bessent advises Trump against firing Fed Chair Powell

Bessent advises Trump against firing Powell, citing economic stability and potential legal hurdles amidst rising tensions over Fed policies

Published

2 months ago

July 20, 2025

Ahron Young

Bessent advises Trump against firing Powell, citing economic stability and potential legal hurdles amidst rising tensions over Fed policies

In Short:
– Treasury Secretary Bessent advised Trump not to remove Fed Chair Powell due to economic stability and potential interest rate cuts.
– Bessent warned of disruptions and legal issues if Trump attempts to fire Powell, stressing the importance of Fed independence.

Treasury Secretary Scott Bessent has advised President Trump against attempting to remove Federal Reserve Chair Jerome Powell.

According to The Wall Street Journal, Bessent’s rationale includes the stable economy, positive market responses to Trump’s policies, and the Fed’s potential plans to cut interest rates later this year.Bessent argued that ousting Powell could lead to unnecessary disruptions and warned of the legal challenges that might arise from such a decision.

Reports of Trump’s consideration to fire Powell have surfaced again, amidst his repeated criticism of the Fed. Some financial experts believe this could undermine the central bank’s independence.

Future Impact

Bessent also highlighted that even without a court challenge, Trump’s attempt to remove Powell could create a leadership vacuum if the Senate doesn’t confirm a replacement quickly.

Current law allows the Fed’s vice chair to step in, but there may be complications if the president’s actions frustrate GOP senators.

Bessent suggested that Trump already has opportunities to influence the Fed, noting upcoming vacancies that can be filled early next year. The White House has indicated that Trump will select a candidate to enhance the Fed’s effectiveness.

News

Electric vehicles transform last mile delivery market

Australia’s last-mile delivery is rapidly adopting electric vehicles, fueled by green initiatives and insights from expert Joe Sofra.

Published

4 hours ago

October 1, 2025

ticker NEWS

Australia’s last-mile delivery is rapidly adopting electric vehicles, fueled by green initiatives and insights from expert Joe Sofra.

The shift towards electric vehicles (EVs) for last mile delivery is accelerating globally, with Australia expected to see significant growth.

Companies and retailers are increasingly adopting greener solutions, driven by supporting government initiatives.

Joe Sofra from ANC discussed the current state of the last mile EV market.

#ElectricVehicles #Sustainability #LastMileDelivery #Innovation #Australia

News

Trump gives Hamas ultimatum for Gaza peace plan acceptance

Trump gives Hamas deadline to accept Gaza peace plan amid rising pressure from Arab states and ongoing conflict in the region

Published

18 hours ago

October 1, 2025

Ahron Young

Trump gives Hamas deadline to accept Gaza peace plan amid rising pressure from Arab states and ongoing conflict in the region

In Short:
– Trump gives Hamas three to four days to accept a U.S.-backed Gaza peace plan, warning of consequences.
– Hamas calls the plan biased and insists on a complete Israeli withdrawal before considering any agreement.

U.S. President Donald Trump has given Hamas three to four days to accept a U.S.-backed peace plan for Gaza, warning of severe consequences if they reject it.The plan, shared by mediators Qatar and Egypt, emerged after Israeli Prime Minister Benjamin Netanyahu endorsed it during a visit to the White House. Hamas, which was not part of the talks, is expected to review the proposal that calls for disarmament, a previously rejected demand.

Trump stated that support for the plan came from both Israeli and Arab leaders, and he emphasised the need for Hamas to respond promptly. The proposal includes a ceasefire, hostage exchanges, an Israeli withdrawal from Gaza, and disarmament of Hamas, along with a transitional government.

A Hamas source described the plan as biased towards Israel and containing unacceptable conditions.

The group maintains that a complete Israeli withdrawal is a prerequisite for their agreement to any deal, while they are unwilling to disarm.

Pressure Mounts

Hamas faces significant pressure as foreign ministers from Saudi Arabia, Jordan, the UAE, Qatar, and Egypt have supported the initiative. Turkey’s intelligence head is also set to join discussions in Doha, marking a new level of mediation.

Despite expressing initial support, Netanyahu is cautious about the plan’s implications for Palestinian statehood and faces pressure from his coalition. Public sentiment in Gaza reflects a desire for peace, albeit with scepticism about the sincerity of both Trump and Netanyahu’s commitments.