President Trump Says the U.S. Will Extend the Iran Cease-Fire

President Trump announced on Truth Social that the United States will extend the Iran cease‑fire slated to end tomorrow while keeping the naval blockade on Iranian ports. The move underscores lingering U.S.-Iran tensions and signals to markets that diplomatic pressure will continue despite the pause in hostilities. Analysts note that the extension could affect oil supply expectations, keeping crude prices elevated and feeding into broader market volatility as investors weigh the risk of a wider regional conflict.

In Washington, Senate Banking Committee members interrogated Kevin Warsh, President Trump’s nominee for Federal Reserve chair, over his commitment to Fed independence. Lawmakers pressed Warsh to name a specific Trump economic policy he disagrees with, probing whether he would resist political pressure to lower rates. The hearing highlighted the delicate balance between the White House’s desire for accommodative monetary policy and the Fed’s statutory mandate, especially as Jerome Powell’s term ends on May 15 and Republicans push for a swift confirmation.

Meanwhile, utilities in Hawaii and Alaska are warning customers of up to a 30% jump in electricity bills as they scramble to purchase oil amid soaring international prices. The spike contrasts with a national cushion provided by abundant natural‑gas generation, which remains relatively cheap despite the Middle‑East conflict. On the corporate front, UnitedHealth reported a $6.48 billion first‑quarter profit and lifted its full‑year guidance, reflecting a successful AI‑driven turnaround. At the consumer level, Red Lobster reintroduced its Endless Shrimp deal for a limited time, aiming to boost foot traffic after a recent bankruptcy. Together, these stories illustrate how geopolitical, regulatory, and energy dynamics are shaping both macro‑economic trends and everyday spending.