Just imagine: US President Donald Trump is ready to take drastic measures! He may declare a state of emergency and federalize Washington, D.C., “if the district’s mayor will not cooperate with federal immigration authorities.”

Earlier on social media, Trump claimed that his administration had transformed the nation’s capital from one of the most dangerous cities in the US — and the world — into the complete opposite. According to him, Washington became “one of the safest cities — and in just a matter of weeks.” At the same time, he accused Mayor Muriel Bowser, a Democrat, of attempting to reverse that progress. The accusations came after the D.C. Metropolitan Police Department ended its cooperation with US Immigration and Customs Enforcement (ICE).

"Mayor Muriel Bowser, who for years has overseen the criminal takeover of our capital, has informed the federal government that the Metropolitan Police Department will no longer cooperate with ICE in deporting and relocating dangerous illegal aliens," Trump said angrily. “If I turn a blind eye to this, crime will come roaring back. If necessary, we’ll have to declare a state of emergency!”

To recall, in mid-August, the American president issued an order declaring a state of emergency in Washington, D.C. He also deployed federal law enforcement and the National Guard to the city, citing “a surge in criminal activity” in the capital.

However, that order expired last week, and now Trump needs congressional approval to maintain control over Washington’s police force. He is backed by the Republican majority in both the House of Representatives and the US Senate.

Importantly, the District of Columbia, where Washington is located, has declared itself a “sanctuary city,” limiting its cooperation with federal immigration authorities.

Earlier in 2025, Trump also deployed the National Guard to Los Angeles, California, in response to a wave of protests against his administration’s immigration policies.

According to analysts at Bank of America (BofA), the boundaries of so-called normality in today’s global trade are rather blurred. In a constantly changing world, anything is possible. Moreover, the global economy has been getting immune to all kinds of shocks.  

Although uncertainty surrounding tariffs has somewhat ebbed away, it is still measured above the baseline level of the past seven years. This means that companies and investors have to operate in unstable conditions that are unlikely to change anytime soon.

As BofA analysts observe, market volatility remains extremely high. According to the bank, the level of trade uncertainty reached nine standard deviations above the average at the beginning of 2025— and that is not the limit.

Recent trade deals between the US, Europe, and Asia have somehow resolved this uncertainty, but it remains one to two standard deviations above the norm. “That’s enough to restrain capital expenditures and growth,” the bank believes.

However, a key issue remains the ambiguity and weak enforcement of trade agreements. “They provide positive communiques but leave room for flare-ups and renegotiations,” BofA says.

The anticipated ruling by the US Supreme Court on the legality of tariffs imposed under emergency powers further adds to the unpredictability. Experts estimate that protracted trade uncertainty reduces business investment by nearly 1 percentage point over three quarters.

“In addition to the effective tariff rates, the impact of this uncertainty is a key component of the economic outlook, especially through the reduction of corporate spending,” BofA emphasizes. The bank is convinced that optimism about trade disputes resolving themselves is misplaced. Elevated levels of uncertainty remain in Canada and Mexico, while markets such as Brazil continue to experience anxiety.

“In the current environment, heightened uncertainty becomes a baseline in itself. Companies evaluating new factories or supply chains are operating in a state of doubt,” the experts summarize. Ultimately, the main burden of these costs will fall on consumers. BofA believes that the promise of a ‘new normal’ in trade looks less like stability and more like “constant anxiety, with or without cause.”

Eric Trump expects an explosive surge in Bitcoin that could shake the entire crypto market. Speaking at an event hosted by the crypto exchange Upbit, Eric Trump called Bitcoin the “perfect tool” for hedging risk. He expressed strong confidence in Bitcoin’s advantages over traditional fiat-based real estate investments.

The Executive Vice President of the Trump Organization emphasized that the world’s first cryptocurrency “outperforms gold and traditional assets” due to Bitcoin’s limited supply of 21 million coins.

Despite Bitcoin’s recent rally to a new all-time high, Trump’s son believes it is not too late for investors to enter the crypto market. “Bitcoin is still in the early stages of its growth. The flagship cryptocurrency is finally seeing widespread adoption beyond the DeFi sector,” he said.

Against this backdrop, Eric Trump urged people to invest in digital assets before the next massive crypto bull run begins. “A decade from now, we’ll look back and confidently say we were pioneers who helped redefine modern finance,” he added.

Previously, Eric Trump praised Bitcoin’s high transaction speed, calling it a major advantage of the cryptocurrency. He cited an example of a $200 million Bitcoin transaction that cost just 60 cents and was completed within seconds. “The same transaction through a traditional bank would have taken weeks — with a 3% fee,” he noted.

The Trump Organization executive warned that countries refusing to adopt digital assets risk becoming irrelevant in the global financial race. “Cryptocurrencies have the power to accelerate global progress — just like railroads and automobiles once did,” Trump said.

He also warned that banks unwilling to work with blockchain technology may lose their customers in the long run. As for Bitcoin, Eric Trump is optimistic: he believes that the number one digital asset will reach $1 million sooner or later.

Larry Ellison, Oracle co-founder and its largest shareholder, has every reason to celebrate — he has surpassed Elon Musk, CEO of Tesla and SpaceX, and has topped the list of the world’s richest people for the first time.

Ellison’s net worth skyrocketed by $101 billion following a sharp rise in Oracle’s stock price, which surged after the company released its financial results. As a result, Ellison’s wealth reached $393 billion, while Musk’s stood at $385 billion.

According to Bloomberg, this jump represents the largest one-day gain ever recorded in the history of the Bloomberg Billionaires Index. Remarkably, Oracle stock makes up the lion’s share of Ellison’s fortune. He currently serves as Oracle’s Chairman of the Board and Chief Technology Officer.

On September 9, Oracle shares soared by 45%. On September 10, they jumped by another 41%, the largest single-day leap in the company’s history. The rally came after Oracle reported a significant increase in order volume and issued an ambitious outlook for its cloud infrastructure business.

Meanwhile, things have not gone so well for Tesla Inc. this year. Its shares have fallen by 13%, causing Elon Musk to lose his top spot on the global wealth ranking to Larry Ellison.

To recap, Elon Musk first became the world’s richest person in 2021, later lost the title to Jeff Bezos and Bernard Arnault, briefly regained it in 2024, and has held it for just over 300 days until now.

The ever-restless US President has once again raised the issue of global tariffs. This time, India and China have come under his radar. According to The Financial Times (FT), citing reliable sources, Trump has urged the European Union to increase tariffs up to 100% on goods from India and China.

Recently, the US president called on the EU to raise tariffs to 100% for India and China “as part of joint efforts to step up pressure on Russia,” as noted by The FT.

Tensions remain high in trade relations between New Delhi and Washington, especially after India's refusal to reduce oil imports from Russia. In response, US authorities sharply lifted import duties on a range of products from India. As a result, since the end of August 2025, the tariff has been increased to 50% of the customs value. This move has sparked a strong negative reaction from New Delhi.

In early September, it was reported that India plans to increase its pharmaceutical exports to Russia due to US pressure. Other promising markets for India remain Brazil and the Netherlands.

If you want to play a high-stakes game, buy Bitcoin! This view was suggested by Mark Branson, head of Germany’s financial regulator BaFin. But in this game, it is easy to incur heavy losses. Still, that does not scare off market participants.

Even though investors now have access to Bitcoin through traditional financial instruments, such as exchange-traded funds (ETFs) tied to cryptocurrencies, Branson believes this does not make Bitcoin a sound investment.

Previously, the BaFin chief compared crypto assets to casinos and gambling, where it is too easy to end up on the losing side. In his opinion, the extreme volatility of cryptocurrencies — with Bitcoin capable of dropping several thousand dollars in a single day — can play a cruel trick on market participants. “Such a strategy is incompatible with serious capital management,” Branson added. He thinks digital currencies have no economic value when compared to stocks and government bonds.

Branson takes a skeptical stance toward all virtual assets. He is convinced that the lion’s share of Bitcoin transactions occurs on the dark web and is often used for illicit activities. Against this backdrop, the official called for stricter regulation of cryptocurrencies in order to combat the rising number of fraud cases. According to Branson, regulators need to keep their finger on the pulse and prevent the “uncontrolled expansion of this parallel universe.”

Importantly, BaFin banned the sale of the USDe stablecoin issued by Ethena Labs in March of this year because the token failed to comply with the EU’s crypto regulation law (MiCA). This legislation requires crypto service providers operating in Germany to obtain a license from BaFin. Without it, legal operations in the country are not possible.

Geopolitical sparks are flying again, with US President Donald Trump taking the spotlight. According to the Financial Times, Washington sees Europe's refusal to buy Russian oil and gas as a trigger for broader sanctions on Moscow. Meanwhile, US Energy Secretary Chris Wright is urging EU member states to shift their purchases to American supplies.

The official stressed that European countries should redirect their demand toward US energy, including liquefied natural gas, gasoline, and other fossil fuels. "If the Europeans drew a line and said: 'We're not going to buy more Russian gas, we're not going to buy Russian oil.' Would that have a positive influence on the US leaning in more aggressively (on sanctions) as well? Absolutely," Wright said.

According to the secretary, purchasing oil and gas from the United States is economically sensible. Moreover, this move would help fulfill earlier agreements under the trade deal regarding import tariffs. Previously, European Commission President Ursula von der Leyen struck a deal with Trump: EU countries would purchase $750 million worth of American energy in exchange for lower tariffs.

In late August, Trump warned that he was prepared to impose sanctions on both Russia and Ukraine if there was no progress in resolving the conflict, saying that such measures would be "very costly" for both sides.

Russia's hydrocarbon exports continue to trouble America and the West. According to the Financial Times, citing informed sources, European leaders are considering sanctions against China for its purchases of Russian oil and gas. More restrictions are on the table, even as fatigue and doubts about their effectiveness grow.

EU authorities are now weighing additional penalties against Beijing for its continued large-scale imports of Russian energy, particularly crude and natural gas.

Talks about a new sanctions package against Russia began on September 7. One way to increase pressure on Moscow would be to target its largest oil buyer. Throughout the discussions, the idea of imposing secondary sanctions on China was raised repeatedly, though no consensus was reached.

Negotiations are still "at a very early stage," FT stressed. For any measures to be approved, EU officials will need backing from the United States as well as unanimous support from all 27 member states. Hungary and Slovakia are seen as likely opponents of secondary sanctions on Beijing.

Earlier, US President Donald Trump criticized European leaders for continuing to buy Russian energy. The US leader called EU imports of Russian oil and gas "unacceptable," arguing that these purchases fund Moscow's budget and prolong the conflict between Russia and Ukraine.

Surprising developments are unfolding at Tesla, Elon Musk’s brainchild. According to a Reuters report citing Cox Automotive research, Tesla's share of the US market fell in August to its lowest level in nearly eight years. Analysts attribute this slump to an aging lineup that has driven buyers toward rivals offering newer electric models. For Musk, the company's founder and CEO, the situation is far from encouraging.

Tesla's struggles extend beyond the United States. The company has experienced an eight-month decline in sales in Europe due to increased competition from Chinese and European automakers. In July, rivals including Hyundai, Honda, Kia, and Toyota surpassed Tesla's growth, boosting EV sales by 60% to 120%.

Adding to Tesla's headwinds are Musk's far-right political activities and his recent partnership with US President Donald Trump.

Analysts warn that while EV sales in the US may rise in September, they are likely to drop once federal tax incentives expire, intensifying financial pressure on Tesla and other automakers.

The final month of summer was particularly harsh for Tesla. Its market share fell to 38% of total US EV sales, down sharply from more than 80% previously. In July, Tesla's share slipped to 42%, compared with 48.7% in June.

Meanwhile, the company's focus has shifted. While other manufacturers are rolling out new EV models, Tesla is concentrating on robotaxis and humanoid robots. Plans to launch cheaper electric cars have been put on hold. Nevertheless, analysts caution that Tesla's current performance deserves close attention, as its vehicle business remains the company’s primary source of revenue.

Trade relations between India and China appear to be improving. This shift has raised hopes for a new strategic partnership. However, optimism may be premature. Analysts at Bernstein caution that ties between the two nations will "remain largely transactional and focused on trade, with limited strategic benefits for India."

Although diplomatic ties exist, deep-rooted problems and structural imbalances in trade and geopolitics hinder broader cooperation. "China is unlikely to become a genuine ally," Bernstein said. India's manufacturing base is not robust enough to offer Beijing credible alternatives to its supply chains, while Indian exports to China remain too small to meet the country's vast import needs.

Bernstein highlights a sharp trade imbalance, with India shipping only a modest volume of goods to China while relying heavily on imports of electronics, auto parts, and pharmaceuticals from Beijing. Adding fuel to the fire are unresolved border disputes, China's close ties with Pakistan, and India's wariness of opening its consumer and agricultural sectors. "Economically, India stands to gain more by deepening relations with the US, where longstanding partnerships offer more substantial strategic advantages," Bernstein noted.

Progress in diplomatic talks has led to a partial resumption of air routes and eased visa restrictions. However, major concessions, such as lifting bans on apps, remain off the table. For now, India-China ties are aimed at maintaining key supply chains rather than building a new geopolitical alliance.

Bernstein believes that this partnership will likely remain symbolic until border issues are resolved and both sides agree to meaningful strategic compromises. Effective bilateral ties will require reciprocal concessions on a range of critical issues.

Attention! A historic moment is approaching. The European Central Bank is preparing to launch the digital euro. The regulator is already halfway to making this groundbreaking decision. With just a final push, victory will be within reach. According to UBS analysts, the preparatory work is "at an advanced stage."

Among major Western central banks, the ECB is showing the greatest ambition in developing a central bank digital currency (CBDC), experts note. Impressive progress indeed.

For now, the regulator is waiting for the European Parliament and the European Council to align on the necessary legislation before the Governing Council makes a final decision. This is expected to occur in the first half of 2026. Then, the ECB will still need another 2.5 to 3 years to finalize the technical framework. If all goes smoothly, the digital euro could be launched in 2028. However, a more realistic timeline is 2029 or 2030.

UBS has previously argued that the digital euro is seen as a tool that can preserve "monetary sovereignty and strengthen Europe's strategic autonomy in a shifting geopolitical environment." The virtual currency would be a retail CBDC with legal tender status. It is expected to complement, rather than replace, cash.

However, skepticism lingers in the cryptocurrency and global financial communities. UBS analysts warn that the ECB's biggest challenge may be persuading the public to embrace the digital euro. They recommend that the regulator prepare a broad-based public relations campaign to help drive the adoption of the new currency.

Anxiety is mounting across financial markets, edging toward panic. Friday’s disappointing US jobs report for August has led traders to fully price in a September rate cut from the Fed. The weak data have also raised the odds of a more aggressive move by the central bank, further stoking tensions.

According to the Fed Rate Monitor Tool, based on CME Group’s 30-day federal funds futures, market expectations have shifted sharply. Investors now see a 92.4% chance of a 25-basis-point rate cut and a 7.6% probability of a 50-basis-point rate reduction at the next monetary policy meeting. Just a day earlier, those probabilities were 98.4% and 0%, respectively.

The dramatic shift in sentiment followed the latest figures from the Labor Department. In August, the US economy added only 22,000 jobs, well below the expected 75,000. Data from the previous two months was also revised downward by 21,000. Meanwhile, the unemployment rate inched up to 4.3% from 4.2%, marking the highest level since 2021.

Persistent inflation is adding fuel to the fire. Fed Chair Jerome Powell has already signaled his readiness to ease monetary policy. Analysts argue that the weak jobs numbers give Powell a green light for a decisive move. Many expect the Fed to act in September, though a 50-basis-point cut is still viewed as unlikely.

Some economists downplay the severity of the latest data. “We do not see the report as weak enough to justify a 50bp rate cut in September, but it opens the door to rate cuts at consecutive meetings,” Michael Gapen, chief US economist at Morgan Stanley, said. The bank forecasts 25-basis-point cuts in September and December, though the labor weakness could accelerate the timeline.

“We’re changing our call from cuts in October and December this year, we’re now expecting cuts in September and October,” Ali Jaffery, economist at CIBC, noted. “We are keeping our terminal rate view unchanged at 3.5%, being reached around the middle of next year, so we are shifting the timing of the start of the easing cycle, but keeping the total amount of easing unchanged at 100bps.”

Analysts also highlight a weakening in labor demand. In this environment, the US central bank could deliver 25-basis-point cuts in both September and December 2025.

The tradition of making promises in politics never ends. Candidates for high office will pledge just about anything. Now Steven Miran, nominated by US President Donald Trump to fill a vacant seat on the Fed's board of governors, has vowed to uphold the central bank's dual mandate and preserve its independence. But will he succeed?

According to documents published on the Senate Banking Committee's website, Miran expressed his commitment to fulfilling the Fed's duties of ensuring price stability and full employment in the US economy. Could he be a worthy successor to Fed Chair Jerome Powell?

"My opinions and decisions will be based on my analysis of the macroeconomy and what's best for its long-term stewardship," Miran emphasized in remarks prepared ahead of his Senate confirmation hearing.

Miran currently serves as an economic advisor to the White House. In his statement, he stressed the importance of the Federal Open Market Committee's autonomy, describing it as "an independent body with a monumental task." "I intend to preserve that independence and serve the American people to the best of my ability," he pledged.