🚨Vance: We think China will have to let their population consume more. [good luck with that]

US indices open higher on US-China trade talk news

BTC mining company Luxor: Russia to be the largest Bitcoin mining beneficiary if Trump's tariffs hit in full.

🚨US Treasury's Bessent says IMF SDR process should serve U.S. interests. IMF should not help large, well-financed countries through SDR allocations. [Chinese Yuan was added to SDR in 2016, he means China]

🚨Bessent: Talks with China on Saturday are a beginning for talks, not advanced discussions.

Bessent: It is time for China to graduate from developing country status.

Bessent: The Treasury market was well functioning in the April turmoil. We and the Fed have a very large toolkit for Treasuries. US will always meet its debt obligations.

🚨David Bailey, who advised Trump on crypto, planning Bitcoin investing, raising $300M [all Trump insiders are loading up crypto]

Bessent: The conditions for a strong dollar are important for confidence.

🚨Federal Reserve Chair Jerome Powell is under increasing political pressure from President Donald Trump, who is demanding preemptive interest rate cuts amid signs of slowing growth and rising tariffs. A weakening labor market could force the Fed’s hand in the coming months -Politico

Bessent: I believe the debt-to-GDP ratio will drop next year.

🚨🚨Bessent: Inflation and employment are inexorably linked. Fed should focus on both price and employment goals.

Strategy CEO announces they're going to publish a Bitcoin standard model and book for other companies to copy and adopt Bitcoin –Bitcoin Magazine.

US Companies are buying back stock at the fastest pace in history [this is not bearish]

Gold/silver ratio is near crisis-level highs: gold bid as a safe haven, silver lags on recession fears [blood in the streets index]

🚨JPMorgan's Michele: Large institutions don't see 'Sell America Trade'. [What they see: $2.8tn Asian dollars seeking safe haven and flowing into gold and crypto]

Trump: Don't know on tariff exemptions. Not looking for so many tariff exemptions.

Charles Schwab fixed-income chief Kathy Jones: Fed may indicate stagflationary environment

🚨Trump: Not open to pulling back 145% tariffs. No to potential for pulling back tariffs on China [BTFD]

🚨Trump: Unwilling to lower tariffs to get China to the table

FOMC 5/7/25 - Rates left unchanged as expected
*FOMC: 'UNCERTAINTY ABOUT THE ECONOMIC OUTLOOK HAS INCREASED FURTHER'