U.S. President Donald Trump (right) and Federal Reserve Chairman Kevin Warsh take the oath of office in the East Room of the White House in Washington, DC, on Friday, May 22, 2026.
Yuri Gripas Bloomberg | Getty Images
Hello, this is Leonie Kidd from London.
Over the past 24 hours, President Donald Trump has criticized interest rates, calling them “ridiculous.” He has vowed an “economic war” and is gradually increasing economic pressure on Iran. And he has supported the crypto industry through the “Clarity Act.”
There are a lot of fronts for the market, but investors seem optimistic today as we head to the end of a seesaw week.
What you need to know today
President Donald Trump turned his attention back to the Federal Reserve, suggesting that members of the Fed’s open market committee may be raising interest rates “because they like policy.” He described the current benchmark interest rate level as “artificial”, adding: “We are living through these ridiculous interest rates. It’s ridiculous.”
His comments came as the Ministry of Finance announced it would double its purchases of government bonds in the coming months in a bid to stabilize the bond market. The measure specifically targets the longer end of the U.S. Treasury market, where yields have soared to multi-decade highs.
But in another sign of economic pressure in the United States, data showed government debt has exceeded $40 trillion.
economic war
President Trump used extensive posts on Truth Social to outline the economic escalation in the war with Iran.
He said the United States had launched “the most devastating economic operation ever waged against any country” against Iran and threatened to impose severe economic sanctions on any country that helped Iran evade sanctions.
“This will be an economic war and isolation of unprecedented proportions.”
Bitcoin is back
Bitcoin, along with other cryptocurrencies, soared on Wednesday after President Trump called on Congress to pass legislation that is expected to boost the sector. Along with several top crypto executives in the White House, he called for a “fair transparency law” that would help define the legal classification of certain crypto assets.
Great buyback success
Tech stocks across Asia rallied in Thursday trading, led by AI darling SK Hynix. The Korean group’s stock price rose as much as 12% following the announcement of a large-scale share buyback. transaction in Kospi The index soared more than 5% before pausing.
Breakthrough in cancer vaccines
Moderna shares soared more than 170% in Wednesday trading, while Merck rallied more than 10% after the drug group announced positive early results for its experimental cancer vaccine. This brings us one step closer to seeking approval for this treatment option.
“This is a huge moment for healthcare and for patients,” Moderna CEO Stephane Bancel said in an interview on CNBC’s “Squawk Box.”
— Leonie Kidd
And finally…
Inside Cryptocurrency’s Multi-Year Sponsorship Rushes to Soccer
Football clubs have been in need of funds during the pandemic. Cryptocurrency companies had enough of that and wanted what the sport could offer: name recognition, recognition, and credibility. What followed was a sponsorship boom, with crypto brands lined up on shirts, around stadiums and at some of the game’s biggest clubs.
CNBC’s Tom Chitty explores how soccer and crypto became unlikely business partners, why the relationship evolved so quickly, and why at one time they seemed like a perfect match.
— Tom Chitty
