New Fed Head, Trump's China Deal, & AI's Growing Market Influence
This week's market focus: Trump's forced China visit, sparked by tariff reversals, is redrawing global IT market lines. Leaders set terms for US AI tech sales to China and strict autonomous weapon controls, impacting global trade flows.
Kevin Warsh's appointment as Fed head, a unique __pro-crypto__ advocate, signals long-term legalization despite his high-interest policies curbing risky assets. Meanwhile, the CLARITY Act debate intensifies as banks battle stablecoin rewards, fearing crypto platforms will drain traditional deposits.
AI demonstrated its power as a chatbot recovered a user's 5 BTC wallet after 11 years by fixing a password bug, raising "AI hack" concerns. This underscores AI's analytical strength but also the inherent risk of uploading encrypted keys.
This week's market focus: Trump's forced China visit, sparked by tariff reversals, is redrawing global IT market lines. Leaders set terms for US AI tech sales to China and strict autonomous weapon controls, impacting global trade flows.
Kevin Warsh's appointment as Fed head, a unique __pro-crypto__ advocate, signals long-term legalization despite his high-interest policies curbing risky assets. Meanwhile, the CLARITY Act debate intensifies as banks battle stablecoin rewards, fearing crypto platforms will drain traditional deposits.
AI demonstrated its power as a chatbot recovered a user's 5 BTC wallet after 11 years by fixing a password bug, raising "AI hack" concerns. This underscores AI's analytical strength but also the inherent risk of uploading encrypted keys.
S&P 500 Futures Dip After Stronger-Than-Expected April PPI
S&P 500 futures slipped into negative territory today after April producer price data exceeded expectations, reinforcing beliefs that the Federal Reserve will maintain current interest rates. The Producer Price Index (PPI) surged to 6% annually, surpassing the 4.9% forecast. Monthly, it jumped 1.4% against a 0.5% estimate.
Core PPI, excluding volatile food and energy components, also came in higher than predicted: 5.2% annually (vs. 4.3% estimated) and 1% monthly (vs. 0.3% estimated). Dow E-minis dipped 0.54%, S&P 500 E-minis lost 0.05%, while Nasdaq 100 E-minis saw a 0.43% gain.
S&P 500 futures slipped into negative territory today after April producer price data exceeded expectations, reinforcing beliefs that the Federal Reserve will maintain current interest rates. The Producer Price Index (PPI) surged to 6% annually, surpassing the 4.9% forecast. Monthly, it jumped 1.4% against a 0.5% estimate.
Core PPI, excluding volatile food and energy components, also came in higher than predicted: 5.2% annually (vs. 4.3% estimated) and 1% monthly (vs. 0.3% estimated). Dow E-minis dipped 0.54%, S&P 500 E-minis lost 0.05%, while Nasdaq 100 E-minis saw a 0.43% gain.
China's Tariffs on US Energy & Agri Goods Ahead of Key Summit
President Trump's upcoming Beijing visit for talks with Xi Jinping aims to address potential energy and agriculture deals, though trade remains heavily impacted by China's existing tariffs.
Current Chinese duties on US imports include: Crude oil at 20%, LNG at 25%, and propane/ethane at 11%. Coal faces significant tariffs, ranging from 28% to 31%. In agriculture, soybeans are taxed at 13%. Beef imports incur duties from 22% to a steep 77% if quota levels are surpassed, a measure supporting China's domestic cattle industry. These levies combine product-specific, retaliatory, and general import charges.
President Trump's upcoming Beijing visit for talks with Xi Jinping aims to address potential energy and agriculture deals, though trade remains heavily impacted by China's existing tariffs.
Current Chinese duties on US imports include: Crude oil at 20%, LNG at 25%, and propane/ethane at 11%. Coal faces significant tariffs, ranging from 28% to 31%. In agriculture, soybeans are taxed at 13%. Beef imports incur duties from 22% to a steep 77% if quota levels are surpassed, a measure supporting China's domestic cattle industry. These levies combine product-specific, retaliatory, and general import charges.
Italy's April Inflation Revised Down to 2.8% Annually
Italy's consumer prices in April rose less than initially estimated. Revised data shows the EU-harmonised consumer price index increased 1.6% month-on-month and 2.8% year-on-year. This is a downward revision from preliminary figures of 1.7% monthly and 2.9% annually.
Despite the downward revision, the 2.8% annual rate for April marks an acceleration from March's 1.6%. The main domestic price index also saw an annual increase of 2.7%, up from 1.7% in March. Core inflation, excluding fresh food and energy, eased to 1.6% year-on-year on the HICP index, down from 1.8% the previous month.
Italy's consumer prices in April rose less than initially estimated. Revised data shows the EU-harmonised consumer price index increased 1.6% month-on-month and 2.8% year-on-year. This is a downward revision from preliminary figures of 1.7% monthly and 2.9% annually.
Despite the downward revision, the 2.8% annual rate for April marks an acceleration from March's 1.6%. The main domestic price index also saw an annual increase of 2.7%, up from 1.7% in March. Core inflation, excluding fresh food and energy, eased to 1.6% year-on-year on the HICP index, down from 1.8% the previous month.
Investors Boost BoE Rate Hike Expectations
Investors have ramped up bets on the Bank of England hiking interest rates in the coming months. This follows global market tensions, particularly in the Strait of Hormuz, and domestic political struggles for Prime Minister Keir Starmer.
UK rate futures on Tuesday indicated roughly 68 basis points of BoE policy tightening by December, a notable increase from 56 bps on Monday. This nearly fully prices in three quarter-point rate increases. Investors also anticipate three European Central Bank rate hikes this year.
Investors have ramped up bets on the Bank of England hiking interest rates in the coming months. This follows global market tensions, particularly in the Strait of Hormuz, and domestic political struggles for Prime Minister Keir Starmer.
UK rate futures on Tuesday indicated roughly 68 basis points of BoE policy tightening by December, a notable increase from 56 bps on Monday. This nearly fully prices in three quarter-point rate increases. Investors also anticipate three European Central Bank rate hikes this year.
Commonwealth Bank Shares Plunge on Tax & Provisions
Australia's largest mortgage lender, Commonwealth Bank (CBA), saw its shares drop 9% after setting aside an additional A$200 million in provisions for risks linked to the Middle East conflict. Its Q3 profit of A$2.7 billion also slightly missed analyst forecasts.
The broader Australian banking sector fell as investors reacted to new federal budget housing tax changes. The government will limit negative gearing to new buildings and scrap the 50% capital gains tax discount on existing properties. Analysts warn these changes could significantly slow investor mortgage demand and housing sales, impacting bank revenues amid rising rates and economic uncertainty. Other major lenders also experienced declines.
Australia's largest mortgage lender, Commonwealth Bank (CBA), saw its shares drop 9% after setting aside an additional A$200 million in provisions for risks linked to the Middle East conflict. Its Q3 profit of A$2.7 billion also slightly missed analyst forecasts.
The broader Australian banking sector fell as investors reacted to new federal budget housing tax changes. The government will limit negative gearing to new buildings and scrap the 50% capital gains tax discount on existing properties. Analysts warn these changes could significantly slow investor mortgage demand and housing sales, impacting bank revenues amid rising rates and economic uncertainty. Other major lenders also experienced declines.
Trump & Xi Push for Stronger US-China Ties in Beijing
US President Donald Trump and Chinese President Xi Jinping have begun high-stakes talks in Beijing, both leaders calling for improved relations between the world's largest economies. Xi urged for "partners, not rivals," envisioning 2026 as a year of historic renewal. Trump lauded Xi as a "great leader," predicting an "ever better" relationship.
This summit, the first Chinese state visit by a US leader in nearly a decade, follows strained ties from a 2025 trade war and ongoing AI chip disagreements. Key agenda items include Taiwan, US business access, and the regional impact of the US-Israeli war on Iran. Preliminary discussions set an optimistic tone.
US President Donald Trump and Chinese President Xi Jinping have begun high-stakes talks in Beijing, both leaders calling for improved relations between the world's largest economies. Xi urged for "partners, not rivals," envisioning 2026 as a year of historic renewal. Trump lauded Xi as a "great leader," predicting an "ever better" relationship.
This summit, the first Chinese state visit by a US leader in nearly a decade, follows strained ties from a 2025 trade war and ongoing AI chip disagreements. Key agenda items include Taiwan, US business access, and the regional impact of the US-Israeli war on Iran. Preliminary discussions set an optimistic tone.
Kuwaiti Tanker Fire Extinguished After Iranian Attack in Dubai
A fire on the fully loaded Kuwaiti crude oil tanker, Al Salmi, was extinguished after it was struck by an Iranian attack at Dubai Port's anchorage. The incident damaged the vessel's hull and raised oil spill concerns. All 24 crew members are safe with no injuries.
Kuwait Petroleum Corporation (KPC) confirmed the tanker was hit by an Iranian drone. This is the latest in a string of assaults on merchant vessels in the Gulf since US and Israeli actions against Iran in late February. Brent crude prices initially rose. Damage assessment is ongoing for the tanker, which carried 2 million barrels of oil. Separately, a Greek-owned container ship reported projectiles near Saudi Arabia. No group has claimed responsibility for the tanker attack.
A fire on the fully loaded Kuwaiti crude oil tanker, Al Salmi, was extinguished after it was struck by an Iranian attack at Dubai Port's anchorage. The incident damaged the vessel's hull and raised oil spill concerns. All 24 crew members are safe with no injuries.
Kuwait Petroleum Corporation (KPC) confirmed the tanker was hit by an Iranian drone. This is the latest in a string of assaults on merchant vessels in the Gulf since US and Israeli actions against Iran in late February. Brent crude prices initially rose. Damage assessment is ongoing for the tanker, which carried 2 million barrels of oil. Separately, a Greek-owned container ship reported projectiles near Saudi Arabia. No group has claimed responsibility for the tanker attack.
US Destroys Over 90% of Iran's Naval Mines
US Central Command chief Admiral Brad Cooper reported that over 700 airstrikes have destroyed more than 90% of Iran’s estimated 8,000 naval mines. This achievement is part of Operation Epic Fury, which significantly targeted Iran's broader military capabilities.
Cooper noted Iran's "once-massive inventory" of sea mines is largely gone. The extensive campaign, involving over 13,500 strikes, also damaged or destroyed more than 85% of Iran's ballistic missile, drone, and naval defense industrial base, with 2,000 strikes on command-and-control structures creating leadership vacuums.
Notably, the statement did not address Tehran's continued control of the Strait of Hormuz. Cooper concluded Iran now retains only "nuisance capability," unable to threaten major regional operations or US freedom of action.
US Central Command chief Admiral Brad Cooper reported that over 700 airstrikes have destroyed more than 90% of Iran’s estimated 8,000 naval mines. This achievement is part of Operation Epic Fury, which significantly targeted Iran's broader military capabilities.
Cooper noted Iran's "once-massive inventory" of sea mines is largely gone. The extensive campaign, involving over 13,500 strikes, also damaged or destroyed more than 85% of Iran's ballistic missile, drone, and naval defense industrial base, with 2,000 strikes on command-and-control structures creating leadership vacuums.
Notably, the statement did not address Tehran's continued control of the Strait of Hormuz. Cooper concluded Iran now retains only "nuisance capability," unable to threaten major regional operations or US freedom of action.
Hungary Freezes Non-Essential Spending Amid Budget Review
Hungary's PM Peter Magyar announced a temporary freeze on non-essential government spending, citing the poor budget inherited from former leader Viktor Orban. The freeze, needing cabinet approval, will last 1-2 weeks for a fiscal review. Regular expenditures, including salaries, will continue.
Magyar also aims to secure over €10 billion in frozen EU funds this month. He believes these funds, frozen due to Orban's policies, are crucial to tackle the budget deficit and end economic stagnation. Magyar expressed confidence in a deal, stating, "It’s in the interest of Hungary, the European member states and perhaps also the European institutions that this cash finds its way here."
Hungary's PM Peter Magyar announced a temporary freeze on non-essential government spending, citing the poor budget inherited from former leader Viktor Orban. The freeze, needing cabinet approval, will last 1-2 weeks for a fiscal review. Regular expenditures, including salaries, will continue.
Magyar also aims to secure over €10 billion in frozen EU funds this month. He believes these funds, frozen due to Orban's policies, are crucial to tackle the budget deficit and end economic stagnation. Magyar expressed confidence in a deal, stating, "It’s in the interest of Hungary, the European member states and perhaps also the European institutions that this cash finds its way here."
U.S. Treasury Ends Russian Oil Sanctions Waiver
The Trump administration allowed a critical sanctions waiver to expire Saturday, halting a mechanism that enabled nations, including India, to legally purchase Russian seaborne crude oil. This lapse follows a temporary extension aimed at easing global supply shortages and mitigating soaring energy prices, which rose after Iran's Strait of Hormuz closure.
Treasury Secretary Scott Bessent had previously stated he would not renew the general license. The expiration occurred after Senators urged against extending the waiver, arguing it funded Russia's military and failed to lower U.S. fuel costs. Global oil benchmarks have hovered above $100 per barrel since the Iran war began. Despite other White House interventions like SPR loans, U.S. gasoline prices remain elevated at $4.50 a gallon.
The Trump administration allowed a critical sanctions waiver to expire Saturday, halting a mechanism that enabled nations, including India, to legally purchase Russian seaborne crude oil. This lapse follows a temporary extension aimed at easing global supply shortages and mitigating soaring energy prices, which rose after Iran's Strait of Hormuz closure.
Treasury Secretary Scott Bessent had previously stated he would not renew the general license. The expiration occurred after Senators urged against extending the waiver, arguing it funded Russia's military and failed to lower U.S. fuel costs. Global oil benchmarks have hovered above $100 per barrel since the Iran war began. Despite other White House interventions like SPR loans, U.S. gasoline prices remain elevated at $4.50 a gallon.
Global Markets Soar on Tech Rally; Bond Worries Surface Amid Summits
Global equities surged, with the Nasdaq, S&P 500, and international indices hitting fresh record highs. Investors largely ignored the Xi-Trump summit and Persian Gulf tensions, extending the powerful tech-driven rally.
Despite the euphoria, the US bond market faces headwinds as both long-end (30-year >5%) and short-end borrowing costs climb, concerning the heavily indebted Treasury. Market breadth remains narrow, with a few AI stocks driving most global gains, raising sustainability questions.
Asia's tech giants, including TSMC and SK Hynix, rapidly expand capacity, capitalizing on the global AI boom and supplying major US tech firms. Meanwhile, the pound dipped following a senior UK minister's resignation and call for a leadership challenge against PM Starmer.
Global equities surged, with the Nasdaq, S&P 500, and international indices hitting fresh record highs. Investors largely ignored the Xi-Trump summit and Persian Gulf tensions, extending the powerful tech-driven rally.
Despite the euphoria, the US bond market faces headwinds as both long-end (30-year >5%) and short-end borrowing costs climb, concerning the heavily indebted Treasury. Market breadth remains narrow, with a few AI stocks driving most global gains, raising sustainability questions.
Asia's tech giants, including TSMC and SK Hynix, rapidly expand capacity, capitalizing on the global AI boom and supplying major US tech firms. Meanwhile, the pound dipped following a senior UK minister's resignation and call for a leadership challenge against PM Starmer.
NY Fed: Student Debt Challenges Persist, Broader Impact Contained
The New York Federal Reserve's Q1 report indicates persistent student loan struggles, yet these are unlikely to trigger wider consumer lending issues. Despite a stable job market, borrowers exhibit elevated delinquency across all credit types, suggesting financial strain extends beyond student debt and is expected to intensify with renewed collection efforts.
However, the flow into serious student loan delinquency moderated in Q1, with overall default levels remaining relatively low. The modest credit usage by these borrowers also limits potential spillover to broader markets.
Overall household debt trends, at $18.8 trillion, remain largely stable. However, rising energy costs amid global instability pose a growing risk, particularly stressing lower-income households. Mortgage balances rose to $13.2 trillion, while credit card debt saw a slight decline.
The New York Federal Reserve's Q1 report indicates persistent student loan struggles, yet these are unlikely to trigger wider consumer lending issues. Despite a stable job market, borrowers exhibit elevated delinquency across all credit types, suggesting financial strain extends beyond student debt and is expected to intensify with renewed collection efforts.
However, the flow into serious student loan delinquency moderated in Q1, with overall default levels remaining relatively low. The modest credit usage by these borrowers also limits potential spillover to broader markets.
Overall household debt trends, at $18.8 trillion, remain largely stable. However, rising energy costs amid global instability pose a growing risk, particularly stressing lower-income households. Mortgage balances rose to $13.2 trillion, while credit card debt saw a slight decline.
SNC Scandic Coin Launches: Real Assets Meet Digital Utility
The Scandic Finance Group (SFG) has launched SNC Scandic Coin (SNC), a fintech project aiming to redefine digital utility. Unlike speculative cryptocurrencies, SNC is designed as a regulated payment, access, and loyalty instrument within SFG's broad ecosystem.
SNC offers real-world applications, allowing users to pay for services like private jet flights, yachts, cars, media apps, and AI products, integrated with loyalty programs. This RWA (Real-World Asset) focus provides tangible benefits, distinguishing it from many projects with vague future visions.
The project emphasizes transparency and compliance. Its smart contract was audited by CertiK, confirming no critical vulnerabilities. A robust KYC-KYB and AML system, managed by CRIF, ensures regulatory adherence and sustainable practices. SNC is part of a vast ecosystem including Scandic Fly, Pay, Cars, and Yachts, using the coin for diverse RWA services.
The Scandic Finance Group (SFG) has launched SNC Scandic Coin (SNC), a fintech project aiming to redefine digital utility. Unlike speculative cryptocurrencies, SNC is designed as a regulated payment, access, and loyalty instrument within SFG's broad ecosystem.
SNC offers real-world applications, allowing users to pay for services like private jet flights, yachts, cars, media apps, and AI products, integrated with loyalty programs. This RWA (Real-World Asset) focus provides tangible benefits, distinguishing it from many projects with vague future visions.
The project emphasizes transparency and compliance. Its smart contract was audited by CertiK, confirming no critical vulnerabilities. A robust KYC-KYB and AML system, managed by CRIF, ensures regulatory adherence and sustainable practices. SNC is part of a vast ecosystem including Scandic Fly, Pay, Cars, and Yachts, using the coin for diverse RWA services.
Asian Shares Retreat Amid Soaring US Yields
Asian shares fell Friday as inflation fears drove US Treasury yields to one-year highs, boosting Fed rate hike bets. US tech stocks, like Nvidia, hit records, but this euphoria bypassed Asia.
MSCI Asia-Pacific ex-Japan fell 1.2%, with Japan's Nikkei also down 1.2% as wholesale inflation accelerated. South Korea's KOSPI dropped 3% after hitting 8,000. Oil prices climbed to $107/barrel, intensifying inflation worries.
US Treasury yields surged, with the 30-year hitting 5.06%—its highest since July 2025. The dollar gained 1.2% weekly, backed by robust retail sales and Gulf tensions, raising Fed rate hike probabilities. Yen weakened past 158; Sterling hit a one-month low.
Asian shares fell Friday as inflation fears drove US Treasury yields to one-year highs, boosting Fed rate hike bets. US tech stocks, like Nvidia, hit records, but this euphoria bypassed Asia.
MSCI Asia-Pacific ex-Japan fell 1.2%, with Japan's Nikkei also down 1.2% as wholesale inflation accelerated. South Korea's KOSPI dropped 3% after hitting 8,000. Oil prices climbed to $107/barrel, intensifying inflation worries.
US Treasury yields surged, with the 30-year hitting 5.06%—its highest since July 2025. The dollar gained 1.2% weekly, backed by robust retail sales and Gulf tensions, raising Fed rate hike probabilities. Yen weakened past 158; Sterling hit a one-month low.
Cybersecurity Weekly: Crypto Scams, Wrench Attacks, & Fake AI Repos
Crypto investigator ZachXBT unmasked Dritan Kapllani Jr., the alleged mastermind behind $19M in phishing thefts. Kapllani, who flaunted wealth, exposed his $3.68M crypto wallet on a Discord call, leading to links to a $5.3M share from a 185 BTC heist. He's expected to be charged soon, while two others face decades for related crimes.
Separately, three suspects were charged in California for "wrench attacks," posing as couriers to physically assault victims and force crypto transfers. These attacks, which cost victims millions, are on the rise, with 72 incidents totaling $41M in 2025.
A fake OpenAI repository on Hugging Face was found distributing an infostealer, mimicking the Privacy Filter project to target users.
Crypto investigator ZachXBT unmasked Dritan Kapllani Jr., the alleged mastermind behind $19M in phishing thefts. Kapllani, who flaunted wealth, exposed his $3.68M crypto wallet on a Discord call, leading to links to a $5.3M share from a 185 BTC heist. He's expected to be charged soon, while two others face decades for related crimes.
Separately, three suspects were charged in California for "wrench attacks," posing as couriers to physically assault victims and force crypto transfers. These attacks, which cost victims millions, are on the rise, with 72 incidents totaling $41M in 2025.
A fake OpenAI repository on Hugging Face was found distributing an infostealer, mimicking the Privacy Filter project to target users.
Global Oil Inventories Plummet, Raising Volatility Concerns
Global oil inventories are rapidly approaching decade-lows, with UBS projecting a drop to 7.6 billion barrels by May's end. This comes despite temporary buffers like SPR releases and demand destruction, which are now largely exhausted.
The shrinking supply, previously affecting non-OECD nations, is set to impact wealthier economies. Analysts warn of "increasingly convex and volatile" oil prices and a "risk of panic buying" if physical disruptions intensify, especially with Strait of Hormuz tensions.
This tight market could serve Iran's interests, increasing pressure for a deal to reopen the vital shipping lane and stabilize energy markets.
Global oil inventories are rapidly approaching decade-lows, with UBS projecting a drop to 7.6 billion barrels by May's end. This comes despite temporary buffers like SPR releases and demand destruction, which are now largely exhausted.
The shrinking supply, previously affecting non-OECD nations, is set to impact wealthier economies. Analysts warn of "increasingly convex and volatile" oil prices and a "risk of panic buying" if physical disruptions intensify, especially with Strait of Hormuz tensions.
This tight market could serve Iran's interests, increasing pressure for a deal to reopen the vital shipping lane and stabilize energy markets.
Venezuela Initiates Complex Debt Restructuring
Venezuela has launched a "comprehensive public debt restructuring" for an estimated $60 billion in defaulted bonds, with total liabilities potentially topping $150 billion. This marks one of the largest and most complex sovereign reworks. The plan primarily targets government and PDVSA bonds, aiming for "normalisation," though clarity on handling multilateral and bilateral debts remains limited.
Caracas outlines principles of sustainability and speed. However, analysts express skepticism about the process's pace, thoroughness, and U.S. legal implications. An ambitious June timeline for a macroeconomic framework and debt sustainability analysis (DSA) raises questions due to the apparent lack of initial IMF involvement, which typically provides independent assessments.
Venezuela has launched a "comprehensive public debt restructuring" for an estimated $60 billion in defaulted bonds, with total liabilities potentially topping $150 billion. This marks one of the largest and most complex sovereign reworks. The plan primarily targets government and PDVSA bonds, aiming for "normalisation," though clarity on handling multilateral and bilateral debts remains limited.
Caracas outlines principles of sustainability and speed. However, analysts express skepticism about the process's pace, thoroughness, and U.S. legal implications. An ambitious June timeline for a macroeconomic framework and debt sustainability analysis (DSA) raises questions due to the apparent lack of initial IMF involvement, which typically provides independent assessments.
BASIS.pro Launches: Crypto Arbitrage Platform Goes Live
BASIS, the professional crypto arbitrage platform developed with Base58 Labs, is now officially live at basis.pro. Following extensive private testing, the platform aims to bridge critical infrastructure gaps in digital asset markets, addressing industry needs for robust execution.
Powered by the proprietary Base58 Hyper-Latency Engine (BHLE), BASIS demonstrated sub-50 microsecond execution latency and high throughput. Crucially, testing focused on system behavior during unstable scenarios like exchange-side instability and liquidity fragmentation, ensuring deterministic outcomes and capital preservation.
BASIS, the professional crypto arbitrage platform developed with Base58 Labs, is now officially live at basis.pro. Following extensive private testing, the platform aims to bridge critical infrastructure gaps in digital asset markets, addressing industry needs for robust execution.
Powered by the proprietary Base58 Hyper-Latency Engine (BHLE), BASIS demonstrated sub-50 microsecond execution latency and high throughput. Crucially, testing focused on system behavior during unstable scenarios like exchange-side instability and liquidity fragmentation, ensuring deterministic outcomes and capital preservation.
Trump: Rate Cuts Tied to Iran Conflict Resolution
Donald Trump, in a Fortune interview, indicated that interest rate cuts might be delayed until the war with Iran ends. He reportedly said, "You can’t really look at the figures until the war is over."
Trump also asserted that Iran is "dying to sign" a ceasefire but then delivers documents unrelated to the actual agreements.
Donald Trump, in a Fortune interview, indicated that interest rate cuts might be delayed until the war with Iran ends. He reportedly said, "You can’t really look at the figures until the war is over."
Trump also asserted that Iran is "dying to sign" a ceasefire but then delivers documents unrelated to the actual agreements.