💰 "You Should Seize Their Funds!" Says...?

Good morning. US stock futures rose in Thursday morning trading as investors weighed the risk of a recession following the latest meeting minutes from the Federal Reserve.

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"Money doesn't change men -- it merely unmasks them. If a man is naturally selfish, or arrogant or greedy, it merely brings that out"

Henry Ford

Top News

US inflation cools

WHAT: The consumer price index, aka the "Sticker-Shock-o-Meter" which measures how much your wallet cries over goods and services in the US economy, took a tiny leap of 0.1% las month, coming in cooler than the 0.2% analyst expected, and 5% from a year ago versus expectations of 5.1%

WHY: Inflation still remains above the Federal Reserve's comfort zone, but it's showing signs of slowing down which is good news. The Fed targets 2% inflation as a healthy and sustainable growth level.

G7 united on financial stability

WHAT: In a bid to keep the global financial system from going bananas, G7 finance leaders vowed to take action after the recent banking drama. In a recently released communique, the Group also promised to let low and middle-income countries have a larger voice in diversifying supply chains to make them stronger.

WHY: "We will continue to closely monitor financial sector developments and stand ready to take appropriate actions to maintain the stability and resilience of the global financial system" G7 finance leaders said.

Zelenskyy: Seize Russia's funds!

WHAT: Here's a bold move that's sure to grab attention: Ukraine's president Volodymyr Zelenskyy turned to the heads of the International Monetary Fund and World Bank and said "Why not raid Russia's piggy bank?" Zelenskyy called for confiscating Russia's central bank assets scattered around the world and putting them to use to help reconstruct Ukraine.

WHY: A joint assessment released in March by Ukraine's government, the World Bank and the European Commission estimates Ukraine's long term recovery needs will total at least $411 billion.

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In Other News

Is FTX about to restart?

 WHAT: In a plot twist that's straight out of crypto comedy, FTX is considering using money earmarked for repaying customers to revive the failed exchange. Apparently, the company is still in the early stages of deciding whether to bring back the exchange which allowed customers to trade digital assets.

WHY: Funds needed to restart the exchange could come from third parties willing to invest in the project or FTX could use some of the $7.3 billion worth of cash, crypto and other assets it has collected Andrew Dietderich, an FTX attorney, told the bankruptcy judge overseeing the case.

E-cig maker coughs up fines

WHAT: Once upon a time, in the land of e-cigarettes, Juul Labs, the giant vape company, found themselves in a sticky situation. Six US states and the District of Columbia caught them red-handed with allegedly deceptive ads that targeted children.

WHY: According to Juul, the company has now settled with 47 states and territories, providing over $1 billion to participating states. That figure is in addition to its efforts to resolve over 5000 private US lawsuits involving approximately 10,000 plaintiffs.

That's a no-no on child labor!

WHAT: The Biden Administration is giving meat processors a not-so-gentle reminder to ensure that their hiring practices don't involve enlisting children for dangerous jobs at their plants.

WHY: Agriculture Secretary Tom Vilsack recently sent a letter to the 18 largest meat and poultry producers urging them to examine the hiring practices at their companies and suppliers. The move comes as part of a broader effort by the administration to crack down on the use of child labor.

Key Economic Events

  • Thursday - No Major Economic News

  • Friday - Fed's Waller Speaks, U. Of. Mich. Consumer Sentiment

Notable Briefs

  • These 4 signs show you're ready to start investing!

  • This is how much American workers say they need to retire comfortably

  • Here are 7 ways you can save on health care costs!

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