The main events by the morning: May 2

• The Fed has decided to keep the key rate at 5.5%. According to Powell, inflation exceeds expectations, so it is important to maintain the current rate and postpone the start of the reduction cycle. The central bank needs to make sure that inflationary pressures are easing, but at the same time it announced a reduction in asset sales from the balance sheet.

• Bitcoin has lost significantly in price, reaching the $57,000 mark. The main reason for the pressure on the crypto market was the sentence of Binance founder Changpeng Zhao to 4 months in prison. The lengthy trial ended, but not in favor of Zhao, and therefore not in favor of the entire crypto community.

• Turkish exports to Russia declined in early 2024 due to harsh measures taken by the United States regarding trade in goods. Exports from Turkey to Russia in the first three months decreased by a third compared to last year and amounted to $2.1 billion. The threat of secondary sanctions is indicated among the reasons.

• The United States still intends to abandon Russian uranium. The House of Representatives has passed a bill banning the import of Russian uranium for the American nuclear power industry.

• Speaker of the U.S. House of Representatives Mike Johnson may be dismissed. Republicans in Congress are suggesting his resignation, while representatives of the Democratic Party plan to vote against it.

• The UAE is under pressure from the United States, Britain and European Union countries because of their trade cooperation with Russia. Western countries fear that Arab companies may supply dual-use goods to Russia.