Trump’s Harsh Criticism of Fed Chair Powell Again: “The Sooner He’s Fired, The Better”
US President Donald Trump targeted Fed Chairman Jerome Powell on his social media account and reiterated his call for an urgent interest rate cut. Stating that he was waiting for the European Central Bank’s seventh interest rate cut, Trump said Powell “is always late and makes the wrong decisions”. Emphasizing that food and energy prices are falling while the US is getting richer with tariffs, Trump said that interest rates should be cut immediately.
European Central Bank Cut Interest Rates
The European Central Bank (ECB) announced its highly anticipated interest rate decision. The ECB cut its key policy rate by 25 basis points from 2.65% to 2.40%, in line with expectations.
US Unemployment Claims Stayed Below Expectations
Applications for unemployment benefits in the US were announced as 215,000 in the last week. Economists’ expectation was 225,000, while the previous week’s data was 223,000.
Fed’s Williams: Rates May Remain at 3% in the Long Term
Williams stated that the long-term federal funds rate is likely to remain around 3%. Emphasizing that their fundamental stance on monetary policy remains unchanged, Williams predicted that economic growth may remain below 1% and the unemployment rate may rise to 4.5% to 5% in 2025. He also said that trade policy uncertainties remain a major concern for businesses.
Nvidia CEO Huang Renxun Meets DeepSeek Founder in China
Nvidia CEO Huang Renxun met in Beijing today with Chinese Vice Premier He Lifeng and Liang Wenfeng, founder of China-based productive artificial intelligence startup DeepSeek, the Financial Times reported. They discussed the production of next-generation Nvidia chips customized for the Chinese market. Huang stated that China is a “very important market” for Nvidia and that they want to continue cooperation.
Deribit: $2.25 Billion Crypto Option Expires Tomorrow
Crypto derivatives exchange Deribit announced that BTC and ETH options with a total value of over $2.25 billion will expire tomorrow. The maximum pain point for BTC options is set at $82,000 and ETH at $1,600. Intensity in options data signals potential volatility in the market.
Tether Freezes 870,000 USDT Associated with Fraud
According to MistTrack data, Tether froze a total of 870,000 USDT at three different addresses. One of these addresses was associated with WhiteBIT and OKX, while another was flagged as linked to phishing and fraudulent activity. The third address reportedly had a transaction history with Gate.io.
Reuters Poll: US Recession Probability in 2025 Rises to 45%
The latest Reuters poll revealed that the US economy is projected to grow by 1.4% in 2025 and 1.5% in 2026. The previous forecasts were 2.2% and 2.0% respectively in March. The survey also put the probability of a US recession in 2025 at 45%, the highest level since December 2023. At the same time, CPI expectations were revised upwards.
by Darkex Research – 1 min read
