市场对特朗普破坏美联储独立性的企图敏感。美国总统特朗普昨天解决了枯燥的生态日历问题。美联储主席鲍威尔是美国总统的眼中钉。

Markets Sensitive to Trump's Attempt to Undermine Fed's Independence.US President Trump sorted the problem of a dull eco calendar yesterday. Fed Chair Powell is the thorn in the US President's side.

美联储戏剧。唐纳德·特朗普再次当选美国总统第二任期的那天，我们知道头条新闻将充满曲折。我们每天都期待着令人惊讶和不寻常的消息，然而，到目前为止，我们所看到的超出了我们的预期，让我们几乎没有做好准备。

The Fed Drama.The day Donald Trump was re-elected for a second term as US President, we knew the headlines would be full of twists and turns. We expected surprising and unusual news every day—and yet, what we've seen so far has exceeded our expectations and prepared us for little.

早盘出价：市场对鲍威尔不断变化的命运保持冷静。Rae Wee展望欧洲和全球市场的未来

Morning Bid: Markets stoic over Powell's shifting fate.A look at the day ahead in European and global markets from Rae Wee

美联储的威廉姆斯：随着关税的影响，通货膨胀率将达到3-3.5%。纽约联储主席约翰·威廉姆斯警告称，关税效应才刚刚开始在数据中显现，并可能在未来几个月内大幅推高通胀。威廉姆斯在隔夜发表讲话时表示，美国关税的全面影响需要时间才能实现，但预计到今年下半年和2026年初，关税将使通货膨胀率增加“约1个百分点”。

Fed's Williams: Inflation to hit 3–3.5% as tariffs bite.New York Fed President John Williams warned that tariff effects are only beginning to show up in the data and could push inflation significantly higher in the months ahead. Speaking overnight, Williams said the full impact of US tariffs will take time to materialize, but expects them to add “about 1 percentage point” to inflation through the second half of this year and into early 2026.