WS #8024

The data dump reveals several high-significance developments. Kevin Warsh has been sworn in as the 17th Fed Chair, with Supreme Court Justice Clarence Thomas administering the oath, signaling a potential hawkish shift. US consumer sentiment has sunk to a record low in May due to Iran war-driven inflation expectations, per Bloomberg. Iran-US tensions remain elevated: Iran's foreign ministry spox stated the Strait of Hormuz is a matter between the US and coastal countries, and Iran's top negotiator told Pakistan's army chief that the US is not an honest party. However, Qatar has sent a negotiating team to Tehran in coordination with the US, a counter-signal. Ukraine continues deep strikes on Russian oil infrastructure, hitting the Sheskharis oil terminal and a chemical plant in Perm, escalating energy supply risks. Nvidia CEO Jensen Huang said the $200B CPU market projection includes China, a positive for NVDA. The narrative arc for US-Iran is STABLE but fragile, with diplomatic efforts ongoing. Ukraine-Russia energy strikes are ESCALATING. The Fed chair change is a new high-significance development with potential for tighter policy.