1 President Trump Says US Doesn't Need Help With The Strait of Hormuz
President Trump reversed course yesterday on his push to get other countries to help secure the Strait of Hormuz, saying the U.S. "doesn't need any help" after a wide range of allies declined to participate. The about-face came just one day after he had called on nations to get involved in reopening the critical waterway, through which about 20 percent of the world's oil passes. Germany, France, Italy, Spain, Australia, Japan, South Korea and Poland all either rejected the idea or said they needed more time to review it. European diplomats told NBC News that allies were reluctant to join a war they had no part in starting. Trump earlier had suggested unnamed countries were "on their way" to help but declined to name them.
2 Top Counterterrorism Official Resigns Over Iran Conflict
The director of the National Counterterrorism Center, Joe Kent, announced his immediate resignation yesterday, becoming the highest-ranking Trump administration official to step down over the war with Iran. Kent, a retired Green Beret who was confirmed by the Senate last year, posted his resignation letter publicly, saying he could not in good conscience support a war he believed was started due to pressure from Israel rather than any actual threat from Iran. Kent wrote that Iran "posed no imminent threat to our nation" and called the war "manufactured." The White House did not immediately respond to the resignation.
3 Markets Pricing In A Near-Zero Chance Of Interest Rate Cuts From The Fed Today
The Federal Reserve is widely expected to hold interest rates steady today when it releases its latest policy decision, keeping the federal funds rate in its current range of 3.5 to 3.75 percent. The Iran war has added a new layer of uncertainty to an already complicated picture, with spiking oil prices raising inflation fears and a slowing job market pulling in the other direction. Futures markets put the chance of a rate cut at nearly zero, and some economists now doubt the Fed will cut at all in 2026. The decision will be released this afternoon at 1 pm, followed by the usual press conference from Fed Chair Jerome Powell, who steps down in May.