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

$1,000,000,000 USDT minted at Tether Treasury

Taiwan 1Q GDP rises 13.69% y/y; est. +11.30%

A SHIB whale who originally held 16.84% of SHIB's total supply has sold another 800 billion SHIB worth $4.9M today, according to lookonchain.

Bullish SHIB. Chart looks good.

Disclaimer: This channel is for informational and entertainment purposes only. Nothing posted here constitutes financial or investment advice. Always do your own research.

US-Iran standoff shows no sign of easing with Trump saying the naval blockade is "choking" Iran's oil exports and working effectively. US military commanders are expected to brief Trump on new Iran strike options, including limited operations aimed at breaking the deadlock. Oil futures surged as much as 7.1% to above $110 a barrel before easing, driven by fears over the Strait of Hormuz and the fragile ceasefire since early April. Analysts said escalation within two weeks is increasingly likely. Iran has refused to reopen the strait while its economy shows mounting pressure and currency weakness.

US initial jobless claims 189k, at the lowest weekly level since 1969; expected 213k, previous 214k

US continuing jobless claims 1.785m; expected 1.820m, previous 1.821m

2% GDP growth in Q1 vs 2.2% forecast supported by consumer spending (weakest pace in four quarters) and business spending

Now we need Kevin Warsh to cut rates for more growth and less inflation.

Consumer spending rose 1.6%, driven by services, while business investment jumped 10.4%, led by AI-related outlays. The economy has remained resilient despite higher oil prices and supply disruptions from the Iran war, though risks persist if consumers turn cautious. Inflation pressures intensified, with the Fed's preferred PCE index rising 0.7% in March and 3.5% year on year, partly due to surging gasoline prices.

ECB Lagarde warns of downside risks to growth; warns of inflation risks skewed to the upside

She probably won't hike this year because of risks to growth

Lagarde: Given our position, six weeks is the right time to evaluate progress.

Lagarde: ECB debated various options including rate hike; some governors might present opposing views on proposals

But they need to sit down and do as I say. The Fed wants to run it hot and we will run it hot too.

US gasoline at $4.3, the highest since 2022

Lagarde: ECB is currently not seeing second-round effects; while energy prices are spiking, the ECB doesn't see workers demanding massive raises and companies hiking prices.

Dovish talk in a hawkish environment

WH Adviser Hassett: It would be a policy error for the ECB and the Fed to hike rates.

Lol

White House Adviser Hassett: Productivity boom will keep core prices under control.

Nobody uses AI in EU just saying

Telegram has officially staked 2.2 million TON, valued at approximately $2.88M, to operate as a primary validator on the TON blockchain.

Chinese Vice Premier He Lifeng: held a call with USTR Greer and Treasury Secretary Bessent, candid and in-depth exchanges. China raised concerns about the recent restrictive measures from the US. Both agree to manage differences and enhance cooperation

China is desperate to project an image of "business as usual" and "Yuan stability" to prevent a massive capital flight. For Xi, a successful summit with Trump is less about policy and more about optics. He needs to signal to big money at home that the trade war remains negotiable to prevent capital flight before the 2027 Taiwan crisis.

Scott Rubner: going to be biggest year of buybacks ever, US corporates are the biggest buyer of stocks with $428 billion YTD as of April. This puts the market on pace for over $1 trillion in total executions this year