Core Viewpoint - Former St. Louis Fed President James Bullard has discussed the Federal Reserve chair position and indicated that interest rates are currently high, with a potential for a 100 basis point cut by 2026 depending on future data [1] Group 1 - The Federal Reserve must pay attention to maintaining the dollar's status as a reserve currency [1] - U.S. debt reflects spending issues that need to be addressed [1]

Core Viewpoint - Federal Reserve's Bowman emphasizes her current focus on her role [1] Group 1 - Bowman's statement indicates a commitment to her responsibilities within the Federal Reserve [1]

Group 1 - Economist Marc Sumerlin stated that the Federal Reserve's federal funds rate is "too high" and that a 50 basis point rate cut is feasible due to an inverted yield curve [1] - Sumerlin emphasized that the housing market is the weakest part of the U.S. economy [1] - He does not believe there is an issue with the size of the Federal Reserve's staff, but rather that the "setup is completely wrong" [1] Group 2 - Sumerlin mentioned that the problem lies in "redundancy" within the Federal Reserve [2] - He is noted to have been a former official during the George W. Bush administration and is reportedly being considered for the position of Federal Reserve Chair [2]

Political Commentary - Former President Trump criticizes Fed Chairman Powell for allegedly acting too late and causing inestimable damage [1] - Trump considers a major lawsuit against Powell regarding the management of the Federal Reserve building construction [1] - The core of the dispute revolves around the renovation costs of the Federal Reserve building [2] - Trump claims the renovation cost $3 billion, while it should have only cost $50 million [1] - This represents a 5900% (3 billion / 50 million) increase over the supposed budget [1]

Core Insights - PIMCO economist Tiffany Wilding indicates that tariff-related pressures are reflected in certain areas of the CPI report, primarily in the goods sector, with a slow transmission process [1] - Aside from this, inflationary pressures appear to be very manageable, which Wilding views as a positive signal for the Federal Reserve [1] Summary by Category - **Economic Indicators** - Tariff-related pressures are included in the CPI report, mainly affecting the goods sector [1] - The transmission of these pressures is noted to be slow [1] - **Inflation Outlook** - Overall inflationary pressures are considered to be very controllable [1] - This situation is interpreted as a favorable sign for the Federal Reserve [1]

Core Viewpoint - The potential limited influence of Milan on the US dollar due to his late participation in the Federal Open Market Committee (FOMC) meetings [1] Group 1 - Aroop Chatterjee from Wells Fargo indicates that Milan may not start attending FOMC meetings until December, which could restrict his impact on the US dollar [1] - Milan is expected to only attend two FOMC meetings before the end of his term, given the current Senate recess until September [1] - Even with expedited Senate action, attending the December FOMC meeting appears more feasible than attending in September or October [1]

Group 1 - Dow futures rose by 0.08%, S&P 500 futures increased by 0.12%, and Nasdaq futures gained 0.15% [1] - Palantir's pre-market shares surged over 5% after the company reported Q2 2025 revenue significantly exceeding expectations and raised its full-year guidance [2] - AMD's pre-market shares rose by 2% as the company is set to release its Q2 2025 earnings on August 5, with a strong focus on its traditional CPU business [2] - BP's pre-market shares increased by over 2% following the announcement of Q2 core replacement cost profit reaching $2.35 billion, surpassing analyst expectations of $1.81 billion [2] - TSMC has terminated multiple employees for leaking confidential information regarding its 2nm chip manufacturing technology [2] - Futu Holdings' pre-market shares rose by over 1.9% after UBS raised its target price from $149 to $170 [2][3] Group 2 - UBS raised the target price for Berkshire Hathaway (BRK.A) from $892,120 to $895,247 and for Berkshire Hathaway (BRK.B) from $595 to $597 [3] - Florida reported multiple cases of bacterial infections related to raw milk consumption, affecting 21 individuals, including 6 children under 10 years old, with 7 hospitalized [3] - Former President Trump is scheduled to discuss economic issues, the Federal Reserve, and tariffs during a live interview on CNBC at 8 PM ET on August 5 [3]

Core Viewpoint - President Trump will participate in a live interview on CNBC's "Squawk Box" to discuss key economic issues, which may lead to market volatility [1] Group 1 - The interview is scheduled for 20:00 Beijing time [1] - Topics of discussion will include the economy, employment, the Federal Reserve, and tariffs [1]

Group 1 - The interview with President Trump on CNBC's "Squawk Box" will cover topics such as the economy, employment, the Federal Reserve, and tariffs [1]

Core Viewpoint - President Trump expressed understanding of the resignation of Federal Reserve Board member Quarles, indicating a vacancy in the Federal Reserve Board is welcomed [1] Group 1 - Trump acknowledged Quarles' disagreement with Powell's views, suggesting a divergence in opinions within the Federal Reserve [1]