Today, Jerome Powell is giving a speech, and many people are wondering: will the U.S. central bank cut interest rates? Right now, most experts think it won’t happen—at least not yet. Inflation is still a concern, and Powell has said he wants to be careful before making any big decisions. The chance of a rate cut today is low—around 20% or less.

At the same time, there's a big fight going on between Donald Trump and Elon Musk. Trump is angry because Musk doesn’t support his new law, the “Big Beautiful Bill” (BBB). Now Trump is saying negative things about Musk and hinting he might take away government help from Musk’s companies. This fight is making investors nervous and causing Tesla’s stock to drop. $TSLA (-2.49%)

About that bill: it’s very expensive. Experts say it could add over $3 trillion to the U.S. national debt in the next 10 years. It gives more money to the military and cuts taxes but also removes funds for healthcare $PFE (-0.18%) and clean energy $FSLR (-0.11%) . Some people say it could hurt the economy in the long run.

Lastly, let’s look at the 10-year bond—an important signal for the economy. Right now, the yield is about 4.19%, which is lower than it was a few weeks ago. When bond yields fall, it often means investors expect the economy to slow down and that interest rates might be cut soon.

In short: Powell is being cautious, Trump and Musk are arguing, and the bond market is flashing warning signs. Together, these things could shape what’s coming next for the U.S. economy. $SPPX (+0.72%)
$SGLD (+1.04%)