China central bank:

*Outstanding individual mortgage loans -3.1% y/y

*Outstanding property development loans -5.1% y/y

*Outstanding property loans -3.4% y/y

Trump met top energy executives at the White House to discuss the energy impact of the Iran war and broader market conditions. Attendees included Chevron CEO Mike Wirth, alongside officials such as Chief of Staff Susie Wiles, Treasury Secretary Scott Bessent, and envoys Steve Witkoff and Jared Kushner.

Senator Warren: a vote to advance Warsh is a vote to help Donald trump take over the Fed; We should not be advancing Warsh today

Trump and oil companies discussed steps to continue Iran blockade for months if needed - White House official

Senate votes on Fed Chair nominee Warsh; Nomination has enough committee votes to advance.

Hegseth declines to say how many more months he expects Iran war to continue - NYT

US to Withdraw USS Gerald R. Ford from Middle East, reducing carrier presence

The US will send the USS Gerald R. Ford home after a record deployment of about 10 months, easing strain on roughly 4,500 sailors but reducing military firepower in the Middle East as tensions with Iran persist. The carrier, one of three in the region alongside the USS Abraham Lincoln and USS George H.W. Bush, is expected to return to Virginia around mid-May for repairs after extended operations and mechanical issues.

Trump would gain Fed board Majority if Powell leaves Powell is currently the only governor appointed by presidents of both parties, having been named by Barack Obama, elevated by Trump, and reappointed by Joe Biden. Trump also appointed current governors Michelle Bowman and Christopher Waller, and is set to fill another seat with Kevin Warsh.

FOMC statement: The implications of Middle East developments for the US economy are uncertain.

Trump: It's a good time to lower rates.

Fed's Powell: I will leave when I think it's appropriate to do so

Putin warned US against new military action in Iran in Trump call - Cremlin

Powell to remain Fed Governor after Chair term ends, backs Warsh transition.

Fed Chair Jerome Powell said he will continue serving as a governor after his chair term ends May 15, with his board seat running through 2028. He indicated he would keep a low profile, noting there is only one chair and that Kevin Warsh will assume the role upon confirmation. Powell said a Justice Department decision to drop a probe into Fed renovation costs cleared the way for Warsh's confirmation. Powell added, "My concern is legal attacks on the Fed, which threaten our ability to conduct monetary policy without considering political factors."

Powell: prospects of core inflation rise are real; policy in a good place to wait and see

Powell: no one calling for a hike now

Meta launches stablecoin payments for content creators via Stripe, using USDCfrom Circle on the Solana and Polygon - The Information

Bessent: we're sprinting for the finish line with Iran

Bessent: the UAE and several others have requested swap lines

Bessent: it would be highly unusual for Powell to stay on the Fed board

Trump: Jerome 'Too late' Powell wants to stay at the Fed because he can't find a job anywhere else. Nobody wants him.

The Trump administration is 'asking other countries to join a new international coalition' to help open the Strait of Hormuz - WSJ