Divided

• The Federal Reserve released minutes from its April 16 policy meeting, revealing internal division over the appropriate timeline for interest rate cuts, with several governors questioning whether inflation has declined sufficiently to warrant near-term reductions. • Hawks on the committee expressed concern that premature rate cuts could reignite price pressures, while doves argued that pausing at 5.5% risks unnecessarily constraining growth and employment, setting the stage for a contentious May 2 vote. • Market reactions to the minutes were mixed, with bond futures pricing in only a 28% probability of a rate cut by July 2026, down from 35% before the release, while equity index futures declined 0.6% on expectation of extended higher rates.

Recriminations continue over failure to bring in new laws allowing assisted dying for terminally ill people in England and WalesAmid the failure of an attempt to bring in new laws allowing assisted dying for terminally ill people with less than six months to live, campaigners on both sides of the debate vented their anger and frustration with the opposing side.Its supporters, including terminally ill people, blamed the failure of the terminally ill adults (end of life) bill, which passed in the House of Commons, on sabotage by a handful of unelected peers. Continue reading...