🗞️Trump denies reports that he will fire the Fed Chair

July 16th, 2025

What happened today 🇺🇸,

• Reports today stated that President Trump had drafted a letter to fire Federal Reserve Chairman Powell and that he would likely fire him “soon”…later on President Trump denied the reports and said he doesn’t have any plans to fire Powell but doesn’t rule out anything

• Secretary of Health and Human Services, Robert F. Kennedy jr., has fired his chief of staff and deputy chief of staff for policy as part of a major leadership shakeup…Matt Buckham has been named acting chief of staff

• Coca-Cola has agreed to switch from using high-fructose corn syrup to real cane sugar in its U.S. beverages, following discussions with President Trump as part of a new health initiative…the change, yet to be formally detailed by Coca-Cola, is intended to improve food quality standards and aligns U.S. Coke with versions sold internationally

• The Trump administration is preparing an executive order that will allow 401(k) retirement plans to invest in private equity and similar private-market assets, expanding investment choices for Americans

• Former NYPD interim commissioner, Thomas Donlon, is suing Mayor Eric Adams and top police officials, alleging they ran the department as a "criminal enterprise" marked by corruption, retaliation, and promotion of loyalists…Donlon seeks a federal takeover of the NYPD and financial damages, while City Hall denies his claims and calls him a disgruntled ex-employee

• Diageo, the global alcoholic beverage company that owns Guinness, Johnnie Walker, and Smirnoff, announced that CEO Debra Crew has stepped down and the company’s Chief Financial Officer, Nik Jhangiani, has been appointed as interim CEO while a formal search for a permanent replacement begins

• Ford has recalled about 700,000 Bronco Sport (2021–2024) and Escape (2020–2022) vehicles in the U.S. due to cracked fuel injectors that can leak fuel and pose a risk of engine compartment fires

• June PPI inflation came in at 2.3% year over year which was below the expectations of 2.5%, Core PPI inflation came in at 2.6% also was below the expectations of 2.7%

• DOW up .53% / S&P up .32%

• Israel carried out airstrikes on Damascus (Syria’s Capital), targeting the Syrian Defense Ministry headquarters and an area near the presidential palace, in response to escalating clashes involving the Druze minority in southern Syria

Bonus: The world’s biggest tourism economies last year

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Quote of the day: “A diamond is merely a lump of coal that did well under pressure” -Henry Kissinger

Comic of the week 😂 :

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