⚡️ JUST IN: Trump says Iran “can’t get their act together” and warns they “better get smart soon” amid rising pressure on nuclear deal talks.

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🕊 Trump instructs aides to prepare for extended blockade of Iran to compel nuclear capitulation

Trump has decided to continue "squeezing Iran's economy and oil exports" through a prolonged blockade of the Strait of Hormuz.

He views resuming bombing or withdrawing from the conflict as riskier than maintaining the blockade.

The ongoing blockade is expected to push US gas prices even higher.

It has also caused the lowest number of transits through the Strait since the Iran War began, now marking two months.

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The US has spent over $65 billion on the military operation against Iran, with a current rate of $11,500 per second.

Trump plans to request at least $200 billion more from Congress for the war with Iran.

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⚡️ JUST IN: Iran has warned of unprecedented military action against continued U.S. seizures of Iran-linked vessels.

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⚡️ JUST IN: Trump has discussed with US oil companies a plan to potentially continue the US “blockade” of the Strait of Hormuz for months.

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⚡️ JUST IN: Senate Banking Committee approves Kevin Warsh for Fed Chair nomination by Trump

Kevin Warsh, nominated by Trump for Fed Chair, has been approved by the Senate Banking Committee and will move to a full Senate vote.

Jerome Powell will hold his final Fed press conference as Chair today at 2:30 PM ET.

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⚡️ JUST IN: US Central Command has prepared a plan for a short and powerful wave of strikes likely targeting Iranian infrastructure.

Trump believes this would break the negotiating deadlock.

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🚨 FOMC in 1 hour

Rate decision drops shortly, followed by the statement.

Powell speaks at 2:30 PM ET, expected to be his last press conference as Fed Chair

How do you think the market reacts?

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⚡️ JUST IN: Fed leaves interest rates unchanged in Jerome Powell's final policy decision as Chair.

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⚡️ JUST IN: Powell said he will not leave until the DOJ probe is fully complete and will continue as governor for an unspecified time, keeping a low profile.

He noted verbal criticisms by elected officials are acceptable but legal actions by the administration are unprecedented and worry attacks are harming the institution, stressing the importance of a politically independent Fed.

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Traders currently assign a 0% probability to a Fed rate cut at the next FOMC meeting, according to CME Fedwatch.

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Trump posted a picture calling it the "Trump Strait" not the Strait of Hormuz.

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