Global and Local Economic Agenda: Fed Minutes, Trump’s Tariffs, and Turkey’s Budget Data

Global Markets and the Fed's Stance Global markets and the Turkish economy concluded a week filled with intensive data.
The primary agenda items included the Federal Reserve's future policies, legal rulings in the United States, and Turkey's fiscal performance.
Minutes from the Federal Reserve's December meeting revealed that a majority of officials support additional interest rate cuts, provided inflation continues to decline toward target levels.
However, some officials argued that interest rates should be maintained at current levels for a longer period until economic data becomes clearer.
Lagarde to Complete Term European Central Bank (ECB) President Christine Lagarde addressed speculations regarding an early departure from her role.
Lagarde stated clearly that she intends to serve her full eight-year term and will remain in office until its conclusion.
Trump’s Stance on Iran and Nuclear Weapons U.S.
President Donald Trump emphasized that Iran must not possess nuclear weapons, raising the possibility of limited military intervention.
Trump noted that lasting peace in the Middle East is only possible with a nuclear-free Iran and a new diplomatic agreement.
Slowdown in U.S.
Economic Growth The U.S.
economy lost momentum in the final quarter of last year.
Growth performance fell below market expectations, driven by a slowdown in consumer spending and weakness in foreign trade.
Turkey’s January Budget Balance According to data from the Ministry of Treasury and Finance, Turkey's central government budget recorded a deficit of 214.5 billion TL in January.
While budget expenditures were recorded at 1.635 trillion TL and revenues at 1.421 trillion TL, the primary surplus reached 241.9 billion TL.
Supreme Court Blocks Tariffs The U.S.
Supreme Court overturned global customs tariffs implemented by President Trump under national emergency powers.
In a 6-to-3 ruling, the court determined that existing laws do not provide a legal basis for permanent and comprehensive tariffs.
Foreign Investor Interest in Turkish Assets Demand for Turkish assets from foreign investors continues to grow.
As of the week ending February 13, non-residents purchased $322 million in the equity market and $1.2 billion in the bond market.