🚨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'

Fed: Risks of higher unemployment, higher inflation have risen. [read pinned]

This FOMC statement is dovish. @bullcase

Neil Dutta at Renaissance Macro: Labor market conditions have already cooled. What makes the Fed assume this stabilizes on its own? It can't and won't, which means a policy response will ultimately be required. Proceed accordingly.

Reporter Enda Curran: It’s clear the Fed is worried now about both rising inflation and rising unemployment, not a great space for a central bank to be in and setting us up for an interesting press conference. Powell will likely be pressed on which poses the greater risk. [unemployment]

KPMG chief economist Diane Swonk: Sees 60% chance of a recession scenario.

Fed's Powell begins press conference

Powell: Risks of higher unemployment, inflation have risen.
*Wage growth has continued to moderate.
*Indicators suggest labor market broadly in balance.
*Near-term inflation expectations have moved up.
*Longer-term inflation expectations consistent with goal.
*Tariffs so far significantly bigger than expected.

Powell: If large increases in tariffs as announced are sustained, will see higher inflation, lower employment.
*Avoiding persistent inflation will depend on size, timing of tariffs, and inflation expectations.
*We aim to keep inflation expectations anchored.
*Without price stability, cannot achieve strong labor conditions.
*If dual mandate goals in tension, consider distance from goal, time to close gaps.
*Can't say which way risks will shake out. Too early to know.
*If look through Q1 distortions, economy solid.
*Can let things evolve and become clearer.
*Underlying inflation picture is good.
*Inflation now running a bit above 2%, with decent readings in housing, non-housing services.