U.S. Treasury Secretary Scott Pessin confirmed that the ongoing trade talks with China are moving in a positive direction, emphasizing that the United States aims to reach high-quality trade agreements rather than rushing to sign them, even if it goes beyond the deadline of August 1st.
Pessin stated in media remarks that the European Union has become more engaged in the negotiations, indicating that there are clear signs of a European desire to accelerate the pace of trade discussions, which enhances the prospects of reaching understandings in the near future.
In reference to U.S. monetary policy, the Treasury Secretary announced his intention to visit the Federal Reserve headquarters this evening, without providing additional details about the nature of the visit or whether it would include meetings with Fed Chair Jerome Powell or other officials of the board.
Regarding the fate of the Fed Chair, Pessin clarified that the decision to dismiss Jerome Powell ultimately rests with President Donald Trump, as expectations regarding potential changes in monetary policy leadership are increasing in the upcoming period.
The remarks of the U.S. Treasury Secretary reflect the current trends of the Trump administration towards accelerating trade negotiations, while simultaneously emphasizing the importance of the quality of deals, which represents a significant shift in the White House's strategy compared to previous periods.
It is noteworthy that Pessin is considered a leading candidate to succeed Jerome Powell as the Fed Chair, making his anticipated visit to the central bank politically and economically significant in the context of developments in U.S. monetary policy.
