Economic Outlook - Federal Reserve staff expects real GDP growth through 2027 to align with prior forecasts [1] - Unemployment is projected to exceed the natural rate by end-2025 and remain elevated [1] Financial Market Implications - Payment stablecoin usage may rise following the GENIUS Act [1] - Increased stablecoin usage could boost demand for assets like U S Treasuries [1]

Policy & Regulation - The GENIUS ACT is essential for securing American leadership in digital assets [1] - Stablecoins will expand dollar access for billions globally [1] Market Impact - Stablecoins may lead to a surge in demand for U S Treasuries [1]

Market Overview - Tether's USD₮ circulation reached $157 billion, a $20 billion increase year-to-date [1] - Tether and Circle are approaching Norway's total US T-bill holdings [1] Financial Performance - Q2 net profit reached $4.9 billion, with $5.7 billion year-to-date [2] - U S Treasuries holdings exceed $127 billion [2] - Equity buffer stands at $5.47 billion [2]

Market Position - Tether surpassed South Korea to become the 18th largest holder of U S Treasuries [1] U S Treasuries Holding - Tether becomes a significant holder of U S Treasuries, ranking 18th globally [1]

So far, though, it looks like we're going to boost deficits up to 7%. And you ran on this three, three, three plan. 3% deficit, 3% economic growth and 3 million barrels of oil, an increase of 3 million barrels of oil a day in the U.S..Do you expect to get to that by the end of President Trump's term. I do, and I'm not sure where the 7% number is coming from. Right.Because I reject the CBO scoring. But on the other side, the CBO also scored terrible income at 2.8% trillion. So, you know that that's substanti ...

🚨 LATEST: Treasury Secretary Bessent says stablecoin legislation could be finalized by mid-July, and expects it to boost demand for U.S. Treasuries. https://t.co/pgcA87aJmi ...

Inflation & Economic Policy - The administration believes its policies are driving down inflation by boosting the economy's supply side, enabling firms to produce more efficiently [1][2] - Concerns exist that companies may hesitate to pass on tariff-related costs due to fears of reduced consumer demand, potentially impacting economic growth and bottom lines [3] - The theory of tax incentives suggests the more inflexible party bears the tariff burden, with American consumers potentially changing consumption patterns [4][5] Trade & Tariffs - Firms can adjust supply chains, sourcing from countries with favorable trade deals, to avoid tariffs [6][7] - Tariffs aim to encourage countries to lower barriers to US products, creating more balanced trade and offering alternative markets [21] - Reciprocal tariffs remain a negotiating tool, potentially implemented if trade negotiations don't progress [19][22] - The president intends to use tariffs to incentivize countries to advance negotiations and make concessions, fostering a fair trade environment [24] Fiscal Policy & Deficit - The administration asserts it takes the deficit seriously and has a plan to reduce it through tax relief, deregulation, energy abundance, and trade renegotiation, aiming for 3% GDP growth [12][13] - Increased GDP growth, tariff revenues, and supply-side expansion are expected to contribute to deficit reduction [13] - Incentives like full expensing of equipment, R&D, and new factories are designed to stimulate investment in America, expanding productive capacity and keeping inflation low [8][9][10] - The administration anticipates deficit reduction through better economic growth, tariff revenue, reduced interest expenses, and cuts to waste, fraud, and abuse [16] - The administration projects 3 to 4 percentage points of GDP worth of deficit reduction, not fully reflected in the CBO score [15]