US NEC Director Hassett says he expects the Warsh hearing to go ahead next week; rates should be lower; confident that Warsh will start as Fed Chair on May 15
Hassett's comments suggest a transition at the Fed with Warsh potentially taking the helm, indicating market expectations for lower rates under his leadership.
NATO’s Secretary General Rutte briefed capitals that Trump wants concrete commitments within days to help secure the Strait of Hormuz, according to diplomats
Senior Iranian sources says under the ceasefire agreement, Iran will allow no more than 15 ships per day through the Strait of Hormuz, Tass reports; Iran demands imply the unfreezing of Iranian assets by the US within two weeks
US NEC Director Hassett says he expects the Warsh hearing to go ahead next week; rates should be lower; confident that Warsh will start as Fed Chair on May 15
US NEC Director Hassett says he still sees 4-5% economic growth this year, despite the war
Iraq’s North Oil Company says Kirkuk’s K1 station received its first crude shipment from Basra, state news agency reports
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- Does not expect current Fed Chair Powell to stay on the board.
- Shrinking of the balance sheet should be gradual.
The expectation of a gradual balance sheet reduction is also notable, as it aligns with a more dovish outlook that could impact fixed income and equities. Overall, the implications point to a shift in monetary policy approach that may ease current financial conditions.
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