Global financial media focused on the following headline news overnight and this morning:

1. Behind Trump's Quest for Fed Control Lies a Dangerous Debt Chess Game 2. EU Reportedly Considering Secondary Sanctions to Prevent Third Countries from Helping Russia Evade Punishment 3. NVIDIA Revenue Hits New High but Revenue Outlook Falls Short of Impressive 4. Germany and Canada Deepen Critical Mineral Supply Chain Cooperation 5. Fed Governor Williams Emphasizes Central Bank Independence, Displeased with Trump's Dismissal of Cook 6. Taylor Swift Engagement Creates Unprecedented Excitement, Actually Driving US Stock Fluctuations

Behind Trump's Quest for Fed Control Lies a Dangerous Debt Chess Game As Trump intensifies efforts to seek control over the Federal Reserve, investors worry he will use central bank tools to address problems that should not be the central bank's responsibility: America's ever-expanding debt bill. Trump stated Tuesday that he is prepared to engage in legal battles over dismissing Fed Governor Lisa Cook and expects to gain a "majority of seats" on the central bank's board. This could help advance the US President's plan to demand lower interest rates, which he claims would save the country "hundreds of billions." The recent surge in government debt costs stems mainly from two factors: expanding budget deficits and rising interest rates. To reduce the debt burden, at least one of these trends needs to be reversed. However, most economists believe the solution lies in reducing borrowing — through a combination of spending cuts and tax increases, rather than relying on the Fed to lower borrowing costs.

EU Reportedly Considering Secondary Sanctions to Prevent Third Countries from Helping Russia Evade Punishment According to informed sources, the EU is considering introducing secondary sanctions to prevent third countries from helping Russia circumvent existing EU punitive measures against Moscow. The EU is developing its 19th round of sanctions, an issue that gained attention during US President Donald Trump's recent White House meeting with European leaders to discuss the conflict. Sources requesting anonymity due to non-public information indicate that EU foreign ministers will meet in Copenhagen later this week and are expected to discuss a range of options.

NVIDIA Revenue Hits New High but Revenue Outlook Falls Short of Impressive As the world's highest market capitalization company, NVIDIA released earnings on Wednesday showing continued quarterly revenue growth, with total revenue reaching $46.7 billion, up 56% year-over-year. This growth was primarily driven by artificial intelligence (AI)-led data center business, which also achieved a 56% year-over-year revenue increase. NVIDIA's net profit also achieved significant growth compared to last year. The earnings report shows the company's second-quarter net profit reached $26.4 billion, surging 59% year-over-year. Overall, NVIDIA's data center business revenue reached $41.1 billion this quarter, indicating continued growing demand from AI companies for cutting-edge graphics processing units (GPUs). Among these, NVIDIA's most advanced next-generation "Blackwell" chips contributed $27.0 billion in revenue.

Germany and Canada Deepen Critical Mineral Supply Chain Cooperation Germany and Canada agreed Tuesday to strengthen cooperation in critical minerals. This move stems from concerns about export restrictions from other countries and Berlin's efforts to reduce dependence on single sources. Minerals such as copper, tungsten, and gallium are crucial for Canada and Germany's high-end manufacturing, defense technology, and clean energy technologies. In April this year, Trump's excessive tariff impositions led to retaliatory measures from corresponding countries, impacting global rare earth and related magnet supply chains and causing significant damage to automotive, aerospace, chip, and military contractors in multiple countries.

Fed Governor Williams Emphasizes Central Bank Independence, Displeased with Trump's Dismissal of Cook New York Federal Reserve Bank President John Williams emphasized the importance of central bank independence on Wednesday, as US President Trump attempts to exert control over monetary policy. During an interview, this influential policymaker did not directly comment on Trump's proposed dismissal of Fed Governor Lisa Cook but clearly pointed out the important economic role the Fed plays in maintaining economic stability. "Personally, I have worked with Lisa Cook — she is currently a member of the Fed's Board of Governors and has consistently maintained integrity in her work, committed to achieving the Fed's mission," Williams stated. "I believe the Fed's independence as a central bank is crucial... Historical experience shows that independent central banks can achieve low inflation and maintain economic and financial stability."

Taylor Swift Engagement Creates Unprecedented Excitement, Actually Driving US Stock Fluctuations On Tuesday, Taylor Swift's engagement announcement once again demonstrated this celebrity's powerful influence in American business and economic sectors. Her joint social media announcement with National Football League (NFL) player Travis Kelce not only sparked enthusiastic fan discussions but even drove fluctuations in certain stocks and prediction markets.