🚨Reverse repo drops from 88.8b to $54.8b, lowest since April 2021

🚨Powell: We may find ourselves in the challenging scenario in which our dual-mandate goals are in tension [high inflation, low employment]. If that were to occur, we would consider how far the economy is from each goal, and the potentially different time horizons over which those respective gaps would be anticipated to close. [BTFD]

🚨Fed's Powell: Unemployment is likely to go up as economy slows.

🚨Fed's Powell: Tariffs are larger, even than in the Fed's upside estimates.

Powell: Government layoffs not yet big enough to have a material effect on the economy

🚨Powell essentially acknowledges that a stagflationary outlook will force the Fed to prioritize employment over short-term inflation, largely due to the impact of tariffs, opening the door to cuts despite tariff-driven inflation. BTFD! -Bull Case insider

Powell: the tariff shock pushes toward higher unemployment, higher inflation

Powell: probably will see continued volatility

🚨FED'S POWELL: CRYPTO IS BECOMING MORE MAINSTREAM, A LEGAL FRAMEWORK FOR STABLECOINS IS A GOOD IDEA

Powell: there will be some loosening of rules to allow innovation, but needs to be done in ways that does not make banks less safe and sound. Crypto climate is changing; more mainstreaming is happening.

Crypto quickly rebounds after Powell's supportive comments

JPM's uncertainty index goes haywire

Bitcoin dominance has reached a 4-year high, while Ethereum’s share has dropped to multi-year lows

🚨SPOT GOLD RISES TO NEW HIGH OF $3,340.61/OZ

🚨China's US Treasury securities holdings $784 bln in February vs. $761 bln in January.

Japan's US treasury holdings $1.126tn in Feb vs $1.079tn in Jan

Gold now 60% above the 200 WMA

BoJ Governor Ueda: US tariffs could exert downward pressure on global, domestic economy, while cannot tell right now which way they would impact prices

SWIFT: China's Renminbi share as a global payment currency was 4.13% in Mar, down from 4.33% in Feb

Bank of Korea: cannot rule out possibility of economy contracting in Q1