Wednesday Evening Links

[Yahoo/Bloomberg] US Bonds Rally Stalls as Powell Endorses a Patient Fed Approach

[Yahoo/Bloomberg] Oil Edges Up in Turbulent Trade Amid Fears of War Escalation

[Yahoo/Bloomberg] Trump Wraps Situation Room Meeting as Iran Plan Remains Mystery

[AP] Fed leaves key rate unchanged as it awaits the impact of tariffs and Trump again scolds Powell

[Yahoo Finance] Fed dot plot reveals more divided central bank, but still points to two rate cuts in 2025

[Yahoo/Bloomberg] Trump Urges SALT Deal as Lawler Stands Firm on $40,000 Cap

[Yahoo/Bloomberg] US Plans to Ease Capital Rule Limiting Banks Treasury Trades

[Yahoo/Reuters] Regulators' plans for US bank leverage relief may underwhelm US Treasury market

[AP] Scientists warn that greenhouse gas accumulation is accelerating and more extreme weather will come

[Bloomberg] Fed’s Powell Says Rate Path Unclear But Tariff Impact Is Coming

[Bloomberg] The Fed Is Just as Confused as the Rest of Us

[Bloomberg] Social Security Warns of 23% Benefit Cut by 2034 Without a Fix

[NYT] Social Security’s Finances Erode Further and Could Spell Benefit Cuts

[NYT] The Fed Isn’t Calling It ‘Stagflation,’ but the Risks Are Rising

[WSJ] Trump Privately Approved of Attack Plans for Iran but Has Withheld Final Order

[WSJ] Fed’s Hawkish Tone Stirs Placid Market

[FT] Donald Trump edges closer to Iran strike as military assets move into position

[FT] Federal Reserve cuts outlook for US economy but holds interest rates steady

[FT] Foreign Treasury holdings remain near record high despite tariff turmoil

[FT] Steve Bannon warns Donald Trump Iran strike would ‘tear the country apart’