Ethereum Rises Above $4,000

 

According to The Wall Street Journal on the 7th, sources revealed that U.S. President Trump and Russian President Putin have held multiple phone conversations, exchanging significant information through intermediaries.

 

The report noted Trump’s campaign promise to end the Russia-Ukraine conflict within 24 hours of taking office, later calling it a “joke.” Sources indicate Trump is privately frustrated at not ending the conflict since returning to the White House.

 

U.S. President Donald Trump announced on Thursday that he has selected Stephen Miran, current chair of the White House Council of Economic Advisers, to fill a vacant Federal Reserve governor seat, with a term ending January 31, 2026. Last Friday, Fed Governor Adriana Kugler unexpectedly announced her resignation effective August 8, giving Trump an opportunity to appoint a loyalist. Trump also said he will continue seeking long-term Fed replacements.

 

In a report released Thursday (August 7), Wall Street’s JPMorgan Chase indicated that the Fed is expected to begin cutting rates at its September 2025 policy meeting, with three consecutive 25-basis-point cuts, bringing the policy rate to 3.5%. The bank cited slowing employment and broader economic signs as reasons.

 

On Thursday local time, U.S. President Trump signed an executive order permitting 401(k) plans to invest in private equity funds, Bitcoin, and other alternative assets. This marks a significant policy shift in U.S. pension investments, paving the way for fund managers to tap into trillions in American retirement savings.

 

The U.S. renewable energy sector faces another blow. The Trump administration has canceled a project that would have been one of America’s largest onshore wind farms. Interior Secretary Doug Bergum stated that the “Lava Ridge” wind project’s approval will be revoked due to “significant legal flaws.”