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Here's your midday brief for Wednesday, July 16th. I'm Piabian-May for the Wall Street Journal.

President Trump indicated to Republican lawmakers that he's likely to attempt firing Federal Reserve

Chair Jerome Powell soon. According to a senior administration official, the president asked lawmakers

during a White House meeting how they felt about firing the Fed chair and several expressed support for attempting to oust him.

The official said Trump then suggested he could move to fire him in the near future.

Goldman Sachs led a broad surge in trading revenue across Wall Street in the second quarter,

fueled by the market volatility set off by President Trump's tariffs.

Trading revenue was up 22% from a year ago, and the bank's profit also jumped 22% to

$3.72 billion.

J.P. Morgan, Bank of America, Citigroup, and Morgan Stanley also reported increases in trading

revenue.

Wholesale inflation in the U.S. held steady in June, surprising

economists. The Labor Department said today that the producer price index was flat, missing

forecasts for a 0.2% rise. Over the past 12 months through June, producer prices rose 2.3%.

Europe's exports to the U.S. fell for the second consecutive month in May, but remained higher

than a year earlier. The European Union Statistics Agency Eurostat says exports edged down to

...