International relations, geopolitics, wars, major global shifts
Trump said the US naval blockade on Iranian ports will stay, calling it more effective than airstrikes. Oil prices rose as markets weighed the risk of extended supply disruption from Iran. Tehran warned of 'practical' action in response.
The U.S. Federal Reserve kept interest rates unchanged but faced four internal dissents, an unusually high level of disagreement. Three officials wanted to drop language hinting at future cuts, while Stephen Miran pushed for an immediate cut. The split puts future rate guidance firmly in play.
Defence Secretary Pete Hegseth faced Democratic lawmakers for the first time since the US entered a war with Iran, costing $25 billion so far. Hegseth dismissed criticism as "reckless, feckless and defeatist," signalling the administration has no plans to change course. The war's cost and justification are now set to
The US Federal Reserve is holding its April FOMC meeting with markets expecting no rate cut, as elevated energy prices and US-Iran tensions complicate the outlook. Jerome Powell's post-meeting remarks will be closely watched for any change in tone on inflation or growth. A hawkish hold could keep borrowing costs high
Defense Secretary Pete Hegseth told Congress the U.S.-Iran war has cost $25 billion, his first Capitol Hill appearance since the conflict started. He sharply criticized lawmakers in both parties who have questioned the war. The figure sets a baseline for future spending debates and potential oversight moves.
Crude oil surged to $117 a barrel after reports of a possible extended blockade on Iran raised fears of a supply squeeze. Iran is a major oil producer, so a prolonged disruption could tighten global supply and keep prices elevated. Oil-importing economies like India face immediate pressure on fuel costs and trade
Kevin Warsh cleared a Senate committee vote, moving him closer to becoming the next Federal Reserve chair under Trump's nomination. His independence from White House influence is the key concern for markets and lawmakers. A full Senate floor vote is the next step.
A senior Pentagon official put the U.S. war in Iran at $25 billion in costs so far, marking the first official military price estimate for the conflict. The figure sets a baseline for congressional budget debates and defense spending expectations.
President Trump told Reuters that Iran intends to make an offer aimed at satisfying U.S. demands. Talks are expected to resume in Pakistan, marking a continued diplomatic push over Iran's nuclear program. The content and timing of Iran's offer have not been disclosed.
Crude oil hit nearly $115 per barrel, the highest since June 2022, as Iran conflict tensions rise and talks stay stalled. Analysts warn prices could reach $150 if the Strait of Hormuz faces disruption. The move raises fuel and inflation risks for import-dependent economies.
Jared Kushner and Steve Witkoff are traveling to Pakistan to meet with Iran's foreign minister, who has arrived carrying a written Iranian response to a U.S. nuclear proposal. The exchange signals the talks have moved into a more formal stage. No deal has been announced yet.
U.S. and Iranian delegations are both heading to Pakistan amid ongoing efforts to end a two-month war, though Iran says no direct meeting is planned. The Strait of Hormuz, still largely closed to maritime traffic, is a central issue in any potential deal.
US Treasury Secretary Scott Bessent says the US is planning currency swap lines with Gulf and Asian partner countries. Swap lines give these nations easier access to dollars, reducing currency stress and signaling deeper US financial ties in key regions. Specific countries and timelines have not yet been confirmed.
Brent crude surpassed $115 per barrel as Trump issued fresh threats against Iran and reports emerged of a planned expansion of the U.S. blockade on Iranian ports. Restricted Iranian exports reduce global oil supply, pushing prices higher and raising fuel and inflation risks worldwide.
The US has blockaded Iran's Strait of Hormuz, with the Pentagon claiming 34 ships turned back, while shipping firm Hapag-Lloyd says one vessel got through. The move is disrupting global fuel supply and drawing urgent calls from EU leaders for the strait to reopen. Switzerland is gradually reopening its Tehran embassy
The US Federal Reserve announces its April policy decision on Wednesday, April 29, after a two-day meeting. Markets expect rates to stay unchanged, but Jerome Powell's press conference tone will be closely watched for signals on the growth and inflation outlook. Any dovish shift could support emerging market assets
The US cancelled a diplomatic trip to Iran after President Trump said Tehran's offer was unsatisfactory. Iran rejected talks it called negotiations held under siege. The breakdown removes the nearest opportunity for direct contact between the two sides.
JPMorgan CEO Jamie Dimon warned that rising government debt and geopolitical risks, including the Iran-US conflict, could spark a global bond market crisis. He expects a sharp rise in bond yields, which could pull investors away from equities. US Treasury yields are already elevated on inflation and Middle East
US President Donald Trump was evacuated from a dinner after an unspecified security threat. The nature of the threat and the location have not been publicly disclosed. No injuries were reported and the situation is under review.
President Trump and Melania Trump were evacuated by the Secret Service from the White House Correspondents' Dinner at the Washington Hilton after gunshots were reported. The annual event was halted mid-gala, with other administration officials also removed from the venue. Details on the cause and any injuries remain