Powell: Right thing to do is await further clarity. [dovish patience]
*If nothing happens to alleviate those concerns, would expect that to show up in data in weeks, months.
*Watching extremely carefully, don't see much evidence in actual data of slowdown in economy.
*Uncertainty can show up in weaker economic data.

Powell: People are worried, but shock hasn't hit yet.
*People are worried, but shock hasn't hit yet.
*Can wait and move when it is clear. [Expectations have already dropped, layoffs follow. Unemployment data is only going to get worse]
*Depending on the way things play out, could have rate cuts, or holding where we are.
*Will have to see where things play out. [dovish patience]
*Data could break in a way that it favors one goal or the other.

Powell concludes press conference. The most used words: WAIT/WAITING (16), SEE (8). That's dovish. @bullcase

DoubleLine's Jeffrey Gundlach: Might have to do yield curve control

POTUS Econ adviser Miran on if inflation is coming back: We don't believe that.

Trump to rescind global chip curbs amid AI restrictions debate.

BTC is ripping, $99.2k

🚨China's central bank allows local lenders to buy more US dollars to fund increased gold import quotas [there are no quotas for crypto]

🚨Trump: Agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom.

🚨Trump: Fed Chair Powell doesn't have a clue on economy, it is "exact opposite of 'too late'".

EU to file WTO complaint over US tariffs

🚨Initial claims dips to 228k

CNN: US-UK trade deal to retain 10% US tariffs.

World Gold Council: Weak dollar and geopolitical concerns drove gold up in April

🚨Coinbase to buy Deribit for $2.9B ($700M cash, 11M shares) in Crypto's Largest Ever M&A: WSJ

🚨World Gold Council: Asia experienced record-breaking inflows during April, adding US$7.3bn, the strongest ever. [those record breaking inflows will come to crypto soon]

Companies are passing cost increases through to consumers. -Apollo