Week 19 Summary

Bloomberg — Week of 2026-04-18 to 2026-05-01#

Story of the Week#

A severe escalation in the US-Iran conflict effectively shuttered the Strait of Hormuz this week, prompting the United Arab Emirates to historically quit OPEC and sending Brent crude surging past $126 a barrel. President Donald Trump’s strict naval blockade and stalled peace talks have fueled a massive energy shock, pitting war-driven stagflation against the deflationary momentum of the global AI boom.

2026-04-29

Sources

Bloomberg — 2026-04-29#

Lead Story#

The Federal Reserve held its benchmark interest rate steady at 3.5% to 3.75%, but the decision revealed a deepening internal division with an unprecedented four-way dissent from policymakers who opposed an easing bias. Adding to the institutional drama, Chair Jerome Powell announced he will remain at the central bank as a governor after his term ends next month, drawing sharp criticism as his designated successor, Kevin Warsh, cleared a key Senate committee vote.