[5 books this morning] Selected news to read before starting work

Who was the former US President TrumpVice presidential candidatesIt was announced that Senator Vance had been elected. The person who made a name for defending populist policies quickly became a rising star of the Republican Party. “After much deliberation and consideration, and after considering the incredible talents of many people, we have decided that the person most suitable for the position of vice president is the great Ohio Senator Vance.” Mr. Trump made the announcement on his social media “Truth” on the opening day of the Republican National Convention.

PowellThe chairman of the US Federal Reserve (FRB) stated in the April-June (second quarter) economic data that policymakers deepened their confidence that inflation is falling toward the agency's target of 2%. He spoke in an interview with David Rubenstein, co-founder of the investment company Carlyle Group. The chairman said, “I didn't get anything that boosted my confidence in January-March (1st quarter). However, with the three indicators for the second quarter, including one announced last week, my confidence deepened somewhat.”

Goldman・SAX Group's April-June (second quarter) profit increased 2.5 times the same period last year. Dealmaking in the industry as a whole was sluggish during this period of the previous year, and profits declined drastically due to real estate investment and losses in the consumer banking business. The current results were driven by the trading division, and both bond and stock trading income exceeded analysts' expectations. Meanwhile, M&A (corporate mergers and acquisitions) advisory fee revenue was lower than JPMorgan Chase. It can be said that it is unusual for top class Goldman to lag behind rivals in this business.

Goldman economists will cut interest rates at the next Federal Open Market Committee (FOMC) to be held by the US financial authorities as early as July 30 and 31.”A solid argumentIt showed the view that “there is.” The magnitude of monthly inflation fluctuations etc. was pointed out, and it was analyzed that “there is a possibility that it will be difficult to explain the September interest rate cut” when inflation temporarily accelerates again. The latest data on unemployment and inflation suggests that 4% federal funds (FF) interest rates are appropriate, and in response, “adjusted interest rate cuts will begin soon.” However, the forecast itself that interest rate cuts will begin in September has not changed.

In response to the attempted assassination of Mr. Trump, so-calledTrump TradeThe momentum is getting stronger across the market. His media company Trump Media & Technology Group temporarily rose 50% immediately after the transaction began. From the view that the possibility of Mr. Trump's victory has increased, buyers are also gathering in sectors that seem to benefit from his return, such as firearm manufacturers, private prison management companies, and virtual currency mining companies.