Trump's playing the ultimatum game with Russia: 50 days or 10… He should remember 2 things: 1. Russia isn't Israel or even Iran. 2. Each new ultimatum is a threat and a step towards war. Not between Russia and Ukraine, but with his own country. Don't go down the Sleepy Joe road!

Make Israel Palestine again.

JUST IN: 🇺🇸 Congressman Brad Sherman says Bitcoin & crypto is the perfect tool for "drug dealers and tax evaders."

🔴 Fed's Hammack: I don't see an imminent need to cut rates.

Fed's Hammack: Inflation has made progress to Fed's target but is still too high.

Fed's Hammack: We are not there yet on inflation, it's important to stay restrictive on monetary policy.

JPMorgan CEO Dimon: Tariffs, immigration policy, and deficits are inflationary.

FED’S MUSALEM: “WE EXPECT TARIFFS TO BEGIN IMPACTING INFLATION STARTING WITH JUNE’S DATA.”

Dimon: Data on the US economy is totally impossible to read

JPMorgan CEO Dimon: I would price in a 40%-50% chance of higher US interest rates #MacroEdge

Brazil's Lula: The world needs to find a way for its transactions not to depend on the US dollar #MacroEdge

What’s the time? Oh look, it’s no-one-has-been-arrested-o’clock again …

Curtis is a small town of 900 people in rural southwest Nebraska. The Curtis Medical Center announced yesterday it is closing, after more than 30 years. It is the only health care provider in the community. They blame Trump’s Medicaid cuts. klkntv.com/rural-southwest-n…

Now that the budget bill has passed Congress, we can see what the projections look like for deficits, government debt, and debt service expenses. In brief, the bill is expected to lead to spending of about $7 trillion a year with inflows of about $5 trillion a year, so the debt, which is now about 6x of the money taken in, 100 percent of GDP, and about $230,000 per American family, will rise over ten years to about 7.5x the money taken in, 130 percent of GDP, and $425,000 per family. That will increase interest and principal payments on the debt from about $10 trillion ($1 trillion in interest, $9 trillion in principal) to about $18 trillion (of which $2 trillion is interest payments), which will lead to either a big squeezing out (and cutting off) of spending and/or unimaginable tax increases, or a lot of printing and devaluing of money and pushing interest rates to unattractively low levels. This printing and devaluing is not good for those holding bonds as a storehold of wealth, and what’s bad for bonds and US credit markets is bad for everyone because the US Treasury market is the backbone of all capital markets, which are the backbones of our economic and social conditions. Unless this path is soon rectified to bring the budget deficit from roughly 7% of GDP to about 3% by making adjustments to spending, taxes, and interest rates, big, painful disruptions will likely occur.

"Big Beautiful Bill" will deliver $1.1 trillion in healthcare cost cuts equaling about 11.8 million losing care, per CBO #MacroEdge

BESSENT: COUNTRIES SHOULD BE CAREFUL, THEIR RATE COULD BOOMERANG BACK TO APRIL 2 RATE

🔴 Rate futures now price about an 80% chance of a Fed rate cut by September, down from 98% before the jobs report.

🔴 Rate futures traders exit bets on July Fed rate cut after jobs report.

Fed's Barkin: There is no urgency to change policy at the moment.

Trump is leaning on the Fed to cut rates. Turkey's Erdogan did that in 2021, firing the hawkish CBRT Governor. What followed were rate cuts that sent Lira going into a devaluation spiral from which it has yet to recover. The Fed's independent for a reason. robinjbrooks.substack.com/p/…