The disclosure of the US Federal Reserve’s meeting in June signified ‘uncertainty’ as the dominant theme, with persistent trade tensions and President Donald Trump’s insistence on a reduction of rates by 3 percentage points. Use of the words ‘uncertain’ and ‘uncertainty’ was noted 28 times in the record of the June 17-18 assembly, with Fed Chair Jerome Powell referencing the terms 19 times. The primary source of this uncertainty was the ongoing disputes over tariffs.
There have been heightened tensions as President Donald Trump expressed dissatisfaction to his staff regarding the progress of trade agreement negotiations, and deliberated on whether to prolong tariff deadlines once more. On Monday, the President declared the imposition of a fresh series of tariffs ranging from 25 to 40 percent on goods from over a dozen countries, inclusive of key trade allies like Japan and South Korea. He stipulated that these tariffs would be implemented unless new trade agreements are established with America by August 1.
Generally, Executive privilege warrants the non-disclosure of White House correspondence. However, such privilege was renounced by both Trump and Biden during the course of investigations into their respective activities. The Red Sea recently became the theater for a dramatic capture of a significant cargo vessel, which was subsequently sunk, by Houthi terrorists; their Hollywood-style video of the incident shocked many.
In other news, the USS Newport News made its way to Iceland this week, indicative of America’s increasing apprehension towards the Arctic in light of reported expansion in Russian military activities. As ceasefires negotiations persist, groups like Hamas and Islamic Jihad could potentially be gearing towards launching an offensive in Gaza.
There have been two striking incidents this week offering proof that Gaza-based terrorists are still capable of initiating offensive attacks. In related news, Australian Foreign Minister Penny Wong issued a call for Russia to offer compensation for the catastrophic 2014 MH17 Malaysia Airlines crash, subsequent to the verdict from the European Court of Human Rights (ECHR) attributing Moscow with responsibility.
The ECHR, seated in Strasbourg, concluded Thursday that Russia did not adequately identify a missile’s target that resulted in shooting down a Malaysia Airlines plane with 298 passengers over the Donetsk region of Ukraine on July 17, 2014. The president’s vow to tackle corruption among the elites raises questions among his MAGA supporters who now begin to question his own integrity.
Notably, the siege started soon after a Hamas ambush resulted in the tragic death of five IDF soldiers and the wounding of an additional 14. Prompting the Givati Brigade and troops from the 99th Division to commence operations, aiming to surround Beit Hanun in the northern Gaza Strip, as announced by the IDF on Wednesday.
Lebanon, over the past decades, has been grappling with internal rifts and external conflicts. However, there now seems to be a glimmer of hope for a different, better future. A recent Iranian assault on a Qatari air base, which plays a crucial role for the U.S. military, apparently struck a geodesic dome housing essential American equipment for secure communications, as per the interpretation of satellite imagery by The Associated Press.
Requests for comments on the damage caused have not been responded to by the U.S. military and Qatar. Interestingly, Iran may have a chance of recovering deeply buried reserves of enriched uranium at one Iranian nuclear facility hit by the U.S. military, as suggested by a senior Israeli official.
These two occurrences add new perspective to the damage from the last month’s strikes, like the United States joining the Israel war with the aim of eradicating the threat of Iran acquiring nuclear weapons capability. Iran, however, continues to maintain that its program does not intend harm and is purely peaceful.
In a surprising development, President Donald Trump commissioned the installation of two colossal American flags on the White House lawns this summer, bearing the estimated cost of $50,000 per flagpole himself, sparing the tax-payers’ money. Oksana Markarova, the Ukrainian Ambassador to the US, seen disheartened during an Oval Office meeting, has announced her departure from DC.
Following controversies and cries for her removal, Ukraine confirmed Ambassador Markarova’s departure on Thursday. Over three years subsequent to Russia’s takeover of its neighbor, Trump’s team was looking to identify arms from U.S. stockpile to be shipped to Ukraine under the Presidential Drawdown Authority. The approximate value of the items stands at $300 million, one source suggested.
On Tuesday, Trump expressed that the U.S. would increase weapon supplies to Ukraine to bolster their defenses against the aggressive Russian advancements. The Ukrainian military successfully eliminated a significant number of Russian drones after a large-scale aerial assault targeted the northwestern city of Lutsk, conducted by Moscow.