Politico: “As investors hunt for the Trump administration’s next winner, they’re increasingly trying to anticipate which industries and companies will benefit from White House policy — from tariffs and export controls to procurement, subsidies and even presidential attention itself.”

“That has changed how investors think about risk. Beyond earnings and cash flow, they’re weighing which CEOs have the White House’s ear, whether a presidential announcement could transform a company’s prospects overnight, or whether a public falling-out could wipe out billions in market value.”

“Federal Reserve officials were split last month about the future of interest rates, with policymakers entertaining scenarios in either direction,” CNBC reports.

“The Trump administration will cheer new savings accounts for children by ringing the NYSE and Nasdaq opening bells from the White House on Monday, as officials hope to turn the bipartisan idea into a campaign boost,” Semafor reports.

“More than 6 million kids had already signed up for Trump Accounts, enacted last year as part of the Republican tax bill, before they launched on July 4.”

Wall Street Journal: What to know about “Trump Accounts,” the new savings account for children that for the next few years come with $1,000 of seed money from the Treasury Department for newborns.

“President Donald Trump suggested on Thursday that he was not aware of the extent of his digital asset holdings but said there was nothing illegal about his involvement, following disclosures about his family companies’ crypto windfall,” Bloomberg reports.

Said Trump: “I could know about it. I didn’t.”

“President Donald Trump said he thinks Elon Musk will donate SpaceX stock to the Trump accounts initiative, following other technology executives who have embraced the new investment vehicles for children,” Bloomberg reports.

New York Times: Less than 10 percent of eligible children have Trump accounts.

“The Trump administration has spoken with SpaceX about donating stock to the children’s savings accounts known as Trump Accounts that are expected to launch next week,” Semafor reports.

“Shortly after the Supreme Court blocked President Trump from immediately ousting a sitting governor from the Federal Reserve, the president struck a defiant note, signaling he would not surrender his long-running fight to gain more sway over one of the most important stewards of the U.S. economy,” the New York Times reports.

“In the eyes of Mr. Trump, the 5-to-4 decision reached by the justices on Monday amounted only to a legal setback, not an insurmountable defeat. Even as the court acknowledged the century-old tradition of political independence at the nation’s central bank, it did not totally foreclose on the president’s ability to try to dismiss its officials in the future.”

“President Trump renewed his intention to try and fire Lisa D. Cook from the Federal Reserve on Monday, saying he would look for a way to oust her after the Supreme Court blocked his previous attempt to fire a sitting governor at the central bank,” the New York Times reports.

“When Kevin Warsh was sworn in as Federal Reserve chairman at the White House last month, he reached back to the man last sworn in at the same spot 39 years ago. Alan Greenspan was the first to ‘show me what this role demands,’ Warsh said,” the Wall Street Journal reports.

“One month in, Warsh is showing what he thinks the role demands, altering the machinery his predecessors built. He announced five task forces on such matters as communications and the data the Fed relies on. Supporters say these moves will boost the Fed’s credibility. Though Warsh’s approach is often described as a return to Greenspan, it was Greenspan who built a good deal of that machinery.”

“Predicting what the Federal Reserve will do next has become an exercise in trying to game out the tactical instincts of a new chairman who isn’t giving the world much to work with,” Axios reports.

“While it’s early days in the Kevin Warsh chairmanship, his reaction function — the way he is likely to respond to incoming information about the economy — is a black box.”

“It means that a wide range of possibilities for interest rate policy this year remain in play — from multiple rate hikes starting in late July, to leaving rates steady indefinitely.”

“With inflation topping 4%, the Trump administration is easing off its long-standing calls for the Federal Reserve to immediately cut interest rates,” CNBC reports.

“That is giving new Fed Chairman Kevin Warsh an extended political grace period as he deals with a challenging economic environment, but underscores the depth of the pushback he could face if the mercurial president changes his mind.”

“Rising stock prices help a very small slice of folks at the top, and the rich don’t spend much of those gains — which would at least drive overall economic growth,” Axios reports.

“The top 20% of income earners in the U.S. hold about 87% of stocks and mutual funds — that amounts to $55 trillion as of June, up from $45 trillion a year ago.”

“The bottom 80% holds about $8 trillion and has seen less of a gain in dollars — up from $7 trillion last year.”