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Warsh's take on Fed independence is met with confusion and some concern
Most people don’t know and don’t have much reason to care what a currency swap line is, except that the financial instrument could soon help markets understand what Federal Reserve Chair nominee Kevin Warsh’s unique ideas about Fed independence really mean. Warsh has said categorically the Fed should be “strictly independent” in the making of monetary policy. But he adds that he’s willing to work with Congress and the Trump administration on “non-monetary matters.” In answers to senators’ questions following his April 21 confirmation hearing, he elaborated: “Fed officials are not entitled to the ... (full story)
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From @CENTCOM|May 4, 2026|11 commentsCLAIM: Iranian state media claims that Iran's Islamic Revolutionary Guard Corps hit a U.S. warship with two missiles. TRUTH: No U.S. Navy ships have been struck. U.S. forces are supporting Project Freedom and enforcing the naval blockade on Iranian ports. pic.twitter.com/VFxovxLU6G
From @BarakRavid|May 4, 2026|193 commentsSenior U.S. official denies a U.S. ship was hit by Iranian missiles
Senior US official denies a US ship was hit by Iranian missiles - Axios Global Affairs Correspondent for Axios, Barack Ravid, said on X that a senior US official denied Iranian missiles hit a US warship. This has triggered a quick reversal in earlier moves after Fars News Agency reported that two missiles struck a US warship near Jask Island after it allegedly ignored repeated warnings to exit Iranian territorial waters. We are likely to get more of such conflicting reports in the next days as tensions in the Strait of Hormuz remain high. This should keep oil prices elevated and risk sentiment a bit more in check as things could escalate very quickly. For now, US stocks are ignoring these risks on expectations that eventually the Strait of Hormuz will be reopened, but the longer this stalemate drags on, the higher the risk that the Fed would need to adopt a tightening bias.
From @financialjuice|May 4, 2026|2 commentsECB's Kazimir: Increasingly likely that Europe is facing a prolonged period of broad-based price increases
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From @finsquawk_|May 4, 2026|18 commentsSENIOR IRANIAN OFFICIAL: IRAN FIRED A WARNING SHOT AGAINST U.S. WARSHIP TO PREVENT ITS ENTRY INTO STRAIT OF HORMUZ, UNCLEAR WHETHER THERE WAS ANY DAMAGE IMPORTANT: CENTCOM said their warships were not "struck", not that they were not fired upon Also the IRGC is now saying they didn't "hit" a ship, but fired warning shots So both sides don't want war, and are just probing as part of the ongoing negotiations
From thedailyupside.com|May 4, 2026Crypto is big, just not so much so with advisors … yet. Institutional adoption has largely led to crypto’s mainstream success, reaching a global market cap of more than $2.6 ...
From @CENTCOM|May 4, 2026|25 commentsU.S. Navy guided-missile destroyers are currently operating in the Arabian Gulf after transiting the Strait of Hormuz in support of Project Freedom. American forces are actively assisting efforts to restore transit for commercial shipping. As a first step, 2 U.S.-flagged merchant… pic.twitter.com/SVDxDhK72I
