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Market Volatility: Stocks Flatten as Powell's Remarks Weigh on Gains

The stock market experienced a turbulent session on Wednesday, ultimately closing near flat after Federal Reserve Chair Jerome Powell's comments on monetary policy and inflation concerns. The S&P 500 ended nearly unchanged , giving back earlier gains as investors digested Powell’s remarks on the Fed’s stance regarding interest rates and economic restraint. Powell reiterated that the central bank remains cautious about inflation, particularly in light of tariff-driven price increases expected over the summer. While the Fed signaled that borrowing costs are likely to decline this year, the pace of future rate cuts appears to be slowing.  Following Powell’s speech, U.S. Treasury yields reversed their earlier declines , influencing market sentiment. The Dow Jones Industrial Average fell 43.83 points (0.10%) , while the Nasdaq Composite managed a slight gain of 23.66 points (0.12%).  Investors also kept a close eye on geopolitical developments, particularly tensions in the Midd...
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Trump Rallies Republicans to Support His Sweeping Tax Bill

 

President Donald Trump made a rare visit to Capitol Hill on Tuesday, urging House Republicans to unite behind his ambitious tax and spending bill. Dubbed the "big, beautiful bill," the legislation aims to extend Trump's 2017 tax cuts while reshaping federal spending priorities. However, the bill has faced resistance from both fiscal conservatives and moderates within the party.  

Trump emphasized party unity, warning lawmakers that opposing the bill could lead to political consequences. He specifically addressed concerns over state and local tax (SALT) deductions, urging blue-state Republicans to set aside their demands for a higher cap. The bill currently proposes raising the SALT deduction from $10,000 to $30,000 for couples, but some lawmakers argue that this does not go far enough.  

Another contentious issue is Medicaid reform. Trump insisted that the bill should focus on eliminating waste, fraud, and abuse rather than making deep cuts to the program. His stance has drawn mixed reactions, with some Republicans pushing for stricter eligibility requirements while others fear the changes could negatively impact lower-income Americans.  

Despite the internal divisions, Trump remains confident that the bill will pass, describing his meeting with House Republicans as one filled with "great unity" and predicting a "great victory" for his administration. The measure still needs to clear a full House vote before heading to the Senate, where further negotiations are expected.

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