Sens. Josh Hawley, R-Mo., and Peter Welch, D-Vt., are pushing legislation that would hike the federal minimum wage to $15 per hour and provide for annual increases to account for inflation.
The proposal would implement a dramatic increase from the current $7.25 per hour federal minimum wage, which has been in place for more than 15 years.
‘For decades, working Americans have seen their wages flatline. One major culprit of this is the failure of the federal minimum wage to keep up with the economic reality facing hardworking Americans every day. This bipartisan legislation would ensure that workers across America benefit from higher wages,’ Hawley said, according to press releases from both lawmakers.
The purchasing power of the U.S. dollar has eroded significantly over the years due to inflation.
Under the proposed legislation, the yearly increases to the initial $15 per hour federal minimum wage would be based on ‘the percentage increase, if any, in the Consumer Price Index for Urban Wage Earners and Clerical Workers (or a successor index), as published by the Bureau of Labor Statistics’ and would be ’rounded to the nearest multiple of $0.05, if the amount … is not a multiple of $0.05.’
‘We’re in the midst of a severe affordability crisis, with families in red and blue states alike struggling to afford necessities like housing and groceries. A stagnant federal minimum wage only adds fuel to the fire. Every hardworking American deserves a living wage that helps put a roof over their head and food on the table–$7.25 an hour doesn’t even come close,’ Welch said, according to the releases.
‘Times have changed, and working families deserve a wage that reflects today’s financial reality. I’m proud to lead this bipartisan effort to raise the minimum wage nationwide to help more folks make ends meet,’ the senator added.
In post on X, conservative commentator Dana Loesch decried the idea of raising the federal minimum wage, pushing back against Hawley’s advocacy for the policy.
‘This is a horrible, progressive idea,’ Loesch asserted in the tweet.
The gold price surge continued on April 21, 2025, as gold hit a record high of $3,385 per ounce. This milestone came amid a weakening U.S. dollar and renewed global trade tensions. Investors are increasingly turning to gold as a safe-haven asset, signaling market uncertainty and shifting investment strategies.
Gold Price Increase Driven by Dollar Weakness
The U.S. dollar index fell sharply, hitting its lowest level since January 2024. A weaker dollar typically boosts gold prices, as it makes the metal more attractive to international buyers. This contributed significantly to the ongoing gold price surge seen in recent weeks.
In addition, economic data indicating slower growth in key global markets has prompted investors to reduce their exposure to riskier assets. Gold’s long-standing reputation as a hedge against economic uncertainty has once again proven true.
Trade Tensions Fuel Demand for Safe-Haven Assets
Ongoing trade friction between major economies—particularly the U.S. and China—has triggered market anxiety. Announcements related to new tariffs and supply chain risks are further motivating the shift from equities to gold. This environment is ideal for a gold price surge to gain momentum.
Analysts Predict Continued Gold Price Growth
Market analysts suggest that the upward trend is far from over. If inflation persists and interest rates remain steady or fall, the gold price could climb even higher. Some predict that the next psychological barrier of $3,500 per ounce may soon be tested.
As the global economic landscape continues to evolve, gold is expected to remain a central pillar in investor portfolios. Whether as a hedge against inflation or a response to geopolitical unrest, the gold price surge is being closely monitored by financial experts.
BNB Price Surge Leads Crypto Gains as Bitcoin Climbs
The BNB price surge on April 21, 2025, stole the spotlight as Binance Coin jumped over 3.2% to cross the $600 mark. This move came as Bitcoin soared past $87,000, reigniting investor interest in altcoins. The bullish wave didn’t stop with BNB—SOL and XRP also made strong moves, reflecting a positive trend across the cryptocurrency market.
BNB Price Surge Driven by Token Burn and Momentum
Fueling the BNB price surge was Binance’s recent $1 billion token burn, which reduced the circulating supply. Additionally, increased trading volumes and renewed faith in Binance’s ecosystem helped BNB regain upward momentum. Investors are optimistic that Binance’s expansion and focus on compliance could drive long-term growth.
SOL Rally and XRP Breakout Add to Market Optimism
Solana (SOL) saw a 10.2% rally, breaking above the $135 resistance level with strong volume and technical confirmation. XRP, on the other hand, climbed past $2.10, setting the stage for a potential breakout above $2.15. These moves indicate bullish setups that are gaining attention from both traders and long-term holders.
Bitcoin Reinforces Its Role as Digital Gold
Bitcoin’s rise above $87,000 reflects renewed demand for a digital safe-haven. With increasing global economic uncertainty and inflation concerns, many investors view Bitcoin as “digital gold.” This sentiment is spilling over into altcoins, triggering the current crypto rally.
Conclusion and Market Outlook
The BNB price surge highlights growing investor confidence in altcoins. Alongside Bitcoin’s strength, tokens like SOL and XRP are enjoying increased attention. If this trend continues, more gains could be ahead for altcoin markets. Investors should monitor resistance levels and trading volumes closely for signs of sustained momentum.
The opportunity to buy Bitcoin under $100K may not last much longer. On April 21, 2025, Bitcoin (BTC) traded just below the $100,000 mark, a price level many analysts believe could be the last stop before a massive new rally begins. With institutional adoption rising and macroeconomic pressures easing, the case for long-term BTC growth is strengthening.
Why Now Might Be the Time to Buy Bitcoin Under $100K
Market experts point to several factors fueling the bullish sentiment. Firstly, Bitcoin’s halving event earlier this year significantly reduced block rewards, cutting daily supply by half. Historically, halving events have preceded major bull runs. Secondly, growing interest from ETFs and institutional players is creating steady buying pressure. Lastly, declining inflation and improved global liquidity conditions are encouraging investment in risk assets like Bitcoin.
According to Bitwise CIO Matt Hougan, “It’s not too late to buy Bitcoin under $100K. This could be one of the last best opportunities before we see a surge well beyond six figures.”
Long-Term Outlook for BTC Investors
Looking ahead, many analysts predict that Bitcoin could exceed $150,000 by the end of the year. While this isn’t guaranteed, trends in institutional adoption, limited supply, and rising use cases for Bitcoin suggest that prices may continue climbing.
Although short-term volatility persists, long-term investors remain focused on fundamentals. If history repeats itself, buying Bitcoin at sub-$100K levels may prove to be a decision rewarded in the coming cycle.
Final Thoughts
If you’ve been on the sidelines, now could be your moment to enter the market. The chance to buy Bitcoin under $100K might not last much longer. As always, do your research and consider your financial goals before investing.
The recent spotlight on Trump’s Fed Criticism has sparked unease among investors and financial analysts alike. President Donald Trump’s repeated public attacks on Federal Reserve Chair Jerome Powell have amplified concerns over the central bank’s independence. As a result, markets have reacted with volatility, and investor sentiment has taken a noticeable hit.
Market Reactions to Political Pressure
Wall Street’s response to Trump’s Fed Criticism was swift. Major stock indices, including the S&P 500 and Nasdaq, posted losses amid uncertainty over future monetary policy decisions. Investors fear that political attempts to sway the Federal Reserve’s agenda may undermine its objectivity. If monetary policy is dictated by short-term political goals rather than long-term economic data, the implications could be severe for inflation, interest rates, and overall economic health.
Why Federal Reserve Independence Matters
One of the cornerstones of a stable economy is a politically neutral central bank. Trump’s Fed Criticism has called that neutrality into question. The Federal Reserve must be able to act without external pressure to maintain credibility in the eyes of global markets. Political interference could compromise its ability to control inflation or manage unemployment rates effectively.
Investor Sentiment and Future Outlook
Investor confidence remains fragile. Many market participants have shifted assets into safer investments such as gold and U.S. treasuries, seeking shelter from potential turmoil. Economic advisors stress the importance of maintaining clear, data-driven policy guidance, especially as the U.S. navigates ongoing trade issues and inflation concerns.
In the coming weeks, the Federal Reserve’s actions will be closely watched. Should Trump’s Fed Criticism intensify, it could further erode market stability and investor trust in U.S. monetary policy.
Oil Prices Rebound After Trump’s Criticism of Fed Chair Powell
On April 22, 2025, oil prices rebound experienced a modest rebound following a significant drop the previous day. The initial decline was triggered by President Donald Trump’s renewed criticism of Federal Reserve Chair Jerome Powell, which unsettled financial markets and raised concerns about the central bank’s independence.
Market Reaction to Political Commentary
President Trump’s comments on Monday intensified investor fears regarding the Federal Reserve’s autonomy in setting monetary policy. The criticism led to a broad sell-off in equities and commodities, with oil prices bearing the brunt of the market’s anxiety.
Short-Covering Leads to Price Recovery
Despite the initial plunge, oil prices rebound edged higher on Tuesday as investors engaged in short-covering. Brent crude futures rose 0.5% to $66.62 per barrel, while West Texas Intermediate (WTI) crude for May delivery increased by 1% to $63.73 per barrel. The more actively traded WTI June contract also gained 0.7% to $62.84 per barrel.
Ongoing Economic Concerns
Market participants remain cautious amid ongoing fears of a potential recession linked to U.S. tariff policies and concerns over Federal Reserve independence. These factors have increased worries about the U.S. economy and crude demand. Additionally, progress in U.S.-Iran nuclear deal talks has eased supply concerns, potentially impacting oil prices further.
As the situation evolves, investors will closely monitor geopolitical developments and central bank communications to assess the potential long-term impacts on the energy markets.
The United States and Mexico are moving closer to a trade agreement that would limit the impact of President Donald Trump’s proposed 50% tariffs on steel, by allowing a portion of imports to enter the US duty-free, according to a report by Bloomberg.
The arrangement, still under negotiation, would set a cap on Mexican steel shipments based on historical trade volumes, effectively reviving a framework used during Trump’s first term but with a higher threshold.
People familiar with the discussions cited in the report say the cap would be designed to “prevent surges” in steel imports without establishing a fixed numerical quota.
This model aims to reassure US steelmakers while providing flexibility for Mexican exporters and US end-users reliant on Mexican supply chains.
Commerce Secretary Howard Lutnick is leading the talks, which remain private.
Trump has not yet been directly involved, but his approval would be required for the deal to move forward.
Negotiators say the broad outlines of the agreement have been agreed upon, but final details are still being hammered out.
Cleveland-Cliffs, Nucor share prices fall in response
News of the potential softening in tariff policy affected markets late Tuesday.
Shares of US steelmakers, including Cleveland-Cliffs and Nucor, dropped sharply, declining by more than 7% and 4% respectively.
The Mexican peso, which had been under pressure earlier in the session, trimmed some losses after the news broke.
Mexico’s Economy Minister Marcelo Ebrard has been vocal in rejecting the premise behind the proposed 50% tariffs.
Speaking at an event on Tuesday, he said the US actually exports more steel to Mexico than it imports, calling the tariffs unjustified.
Ebrard said he made this case in meetings with US officials last week in Washington, where he was photographed shaking hands with Lutnick.
“We are waiting for their response, because on Friday we gave them the details of Mexico’s argument and we are right,” Ebrard told reporters Tuesday.
“So we are going to wait for their response which will probably be this very week.”
Steel deal part of broader US-Mexico realignment
The talks are unfolding against a backdrop of broader diplomatic repositioning between Trump and Mexican President Claudia Sheinbaum.
Washington has demanded tougher action from Mexico on immigration and drug trafficking, areas where cooperation remains uneasy.
Homeland Security Secretary Kristi Noem recently accused Sheinbaum of encouraging anti-deportation protests in Los Angeles—an allegation Sheinbaum strongly denied as “absolutely false.”
The prospective steel deal also comes just ahead of the Group of Seven summit in Canada, where Trump and Sheinbaum are expected to meet, potentially giving the agreement geopolitical significance as well as economic impact.
Steel trade tensions linger as industries diverge
According to Commerce Department data, the US imported about 3.2 million metric tons of steel from Mexico in 2023—roughly 12% of total US steel imports.
The 2019 agreement between the two nations during Trump’s previous term set import limits based on 2015-2017 averages, and the new framework is expected to exceed those levels while maintaining safeguards against sharp increases.
Trump’s announcement last week to double steel tariffs came alongside his endorsement of Nippon Steel’s proposed acquisition of US Steel Corp., positioning the move as a measure to protect domestic industry.
While the tariff hike has pleased steel producers, downstream manufacturers and construction firms have warned it could increase costs and disrupt supply chains.
If finalized, the agreement could mark a calibrated policy shift—protecting US industry while avoiding full-scale trade friction with a key partner.
Wednesday saw oil prices dip, as markets analysed the results of US-China trade discussions, which still await President Donald Trump’s review.
Market pressures included weak oil demand from China coupled with increased output from OPEC+.
“Despite recent strength, and what could be viewed as a potential breakout, oil has yet to push out of a trading range which has been building over the last two months,” said David Morrison, senior market analyst at Trade Nation.
Prices appear to be pausing as they await a fresh catalyst.
This seems likely to come from supply commentary, or trade developments, particularly any news from US-China trade talks.
At the time of writing, the price of West Texas Intermediate crude oil on the New York Mercantile Exchange was at $65.07 a barrel, largely unchanged from the previous close. Brent crude oil on the Intercontinental Exchange was also flat at $66.89 a barrel.
Both benchmarks had fallen earlier in the session on Wednesday.
Experts believe that oil prices have experienced brief periods of bullishness, but those have not materialised into substantial rallies.
From a bullish standpoint, the daily moving average divergence convergence appears generally constructive. It has returned to and continues to rise above the neutral level.
“But crude has been in this situation many times over the past year or so. And rally attempts have tended to be snuffed out relatively quickly,” Morrison said.
Following intense two-day London talks, US Commerce Secretary Howard Lutnick reported Tuesday that American and Chinese officials have established a framework aimed at restoring their trade agreement and addressing China’s export limitations on rare earth minerals and magnets.
Trump will be briefed on the outcome before approving it, Lutnick added.
Meanwhile, a federal appeals court handed Trump a victory Tuesday, deciding his “Liberation Day” tariffs could remain in place for now.
This reverses a prior decision by the US Court of International Trade, which had deemed the tariffs’ enactment illegal and blocked their implementation last month.
The oil market remains cautious amid the increasingly complex trade narratives of the Trump administration.
Supply
Simultaneously, regarding supply, OPEC+ intends to raise oil output by 411,000 barrels daily in July, continuing their fourth consecutive month of easing production cuts.
Some experts, however, question if regional demand will be sufficient to absorb this additional supply.
The summer driving season in the US is likely to generate some demand for fuel in the world’s biggest consumer of crude oil.
However, experts remain skeptical about whether global oil demand could meet OPEC’s supply increases.
Eight countries from the OPEC+ group, including Saudi Arabia and Russia have been raising output of oil by 411,000 barrels a day each month since May.
EIA predicts fall in US production
According to the latest Short-Term Energy Outlook, published late on Tuesday, the Energy Information Administration (EIA) has adjusted its 2026 projections for US crude oil production downward.
The EIA now forecasts a 50,000 barrel per day year-on-year decrease in 2026, bringing output to 13.37 million barrels per day.
Notably, this projected decline would mark the first annual drop in US production since 2021, when production was impacted by the COVID-19 pandemic.
For 2025, annual output growth is projected to remain constant at 210,000 barrels per day year-over-year.
“The decline isn’t too surprising, given the recent slowdown in drilling activity,” Warren Patterson, head of commodities strategy at ING Group, said.
A 33-rig decline over the past six weeks has pushed the US oil rig count to 442, marking its lowest point since October 2021, amid the current period of low prices.
ING’s Patterson added:
Given our view that oil prices will be lower towards the end of this year, there’s scope for further downward revisions in US crude oil output estimates for next year.
The European Union has prohibited imports of Russian crude oil and refined products.
However, refined products derived from Russian crude are still entering the bloc through third-party countries.
“This would mostly put refined product imports from India and Turkey at risk,” Patterson said.
India and Turkiye are significant importers of Russian crude oil, collectively receiving 1.77 million barrels per day in the first quarter of 2025, as per LSEG data.
Concurrently, India and Turkiye are also exporters of refined petroleum products to the European Union, which imported over 350,000 barrels daily from these two nations.
Patterson added:
Such a move would lead to yet another shift in refined product trade flows. But the Commission implementing such a ban would be difficult, given that refiners blend different types of crude oil.
India’s Maruti Suzuki, facing rare earth shortages, has significantly reduced its initial electric vehicle e-Vitara production goals by two-thirds, as revealed in a document, highlighting ongoing supply chain disruptions within the automotive sector due to China’s export restrictions, Reuters reported.
The revised plan outlines the production of approximately 8,200 e-Vitaras from April to September, down from the initial target of 26,500 units.
Shortages in the rare earth materials crucial for magnets and various high-tech components were cited as the reason behind the constraints on supply.
The document still stated that Maruti intends to achieve its annual EV production goal of 67,000 units for the fiscal year ending March 2026 by increasing output in the months ahead.
China’s dominance
China’s imposition of restrictions on the export of specific rare earth minerals has sent shockwaves through the international automotive manufacturing sector, triggering widespread alarm among major players.
These companies have publicly expressed grave concerns about the potential for severe disruptions to their intricate and globally interconnected supply chains.
While some firms based in the United States, across various nations in Europe, and within Japan have reported a gradual easing of supply pressures, attributed to their successful acquisition of necessary export licenses directly from Beijing authorities, India remains conspicuously in a state of limbo.
Indian industries are still awaiting the critical regulatory approvals from China, leading to escalating anxieties about the imminent threat of potential production halts and significant economic setbacks.
This geopolitical tension has underscored the vulnerability of global industries to trade disputes and resource control, further emphasising the strategic importance of diversifying supply chains and developing alternative sources for essential materials.
The situation also highlights the complex interplay between international trade policies, national interests, and industrial stability in the modern world economy.
Maruti’s e-Vitara
The e-Vitara, unveiled with significant anticipation at India’s car show this January, is vital for Maruti Suzuki’s electric vehicle strategy in the nation.
This launch represents Maruti’s debut in a market segment the Indian government, led by Prime Minister Narendra Modi, aims to expand to 30% of all car sales by 2030, a substantial increase from the approximately 2.5% recorded last year.
A production delay for Maruti Suzuki’s electric SUV, the e-Vitara, has surfaced due to a rare earths supply issue.
This could negatively affect Suzuki Motor, as India is its primary revenue market and a key electric vehicle manufacturing center.
Most of the India-made e-Vitaras are intended for export to Europe and Japan by mid-2025.
Despite these concerns, Maruti stated that the rare earths problem would not significantly delay the e-Vitara’s launch.
Chair RC Bhargava had also noted that production is currently unaffected. Neither Maruti nor Suzuki responded to requests for further comments.
Following the announcement, Maruti’s stock price on the Indian stock exchange experienced a decline, dropping as much as 1.4% to reach its lowest point of the day.
The company has not yet commenced bookings for the e-Vitara.
European stock markets showed a mixed and generally flat performance in early trading on Wednesday, as investors weighed positive developments in US-China trade negotiations against some underwhelming corporate earnings and awaited key economic data.
While a tentative trade agreement offered a degree of optimism, individual market movements were nuanced.
About 30 minutes into Wednesday’s trading session, the pan-European Stoxx 600 index was seen trading flat, indicating no cohesive directional momentum among individual sectors.
Looking at the major national stock exchanges, France’s CAC 40 emerged as an early front-runner, posting a gain of around 0.3%.
London’s FTSE 100 was last seen trading 0.1% higher, while Germany’s DAX index showed little change from its previous close.
US-China trade talks: a framework for agreement
A significant driver for global market sentiment was the news emerging from high-level trade talks between the United States and China in London.
After a second day of discussions, representatives from both nations announced they had reached an agreement on a framework to ease trade tensions, with the deal now awaiting approval from the leaders of the two countries.
“We have reached a framework to implement the Geneva consensus and the call between the two presidents,” US Commerce Secretary Howard Lutnick told reporters.
A critical component of this latest agreement involves Chinese restrictions on rare-earth exports to the US Lutnick stated that this is a “fundamental part” of the deal and that the US expects the issue “will be resolved in this framework implementation.”
He further indicated that US restrictions on sales of advanced technology to China, imposed in recent weeks, would likely be rolled back as Beijing approves rare-earth exports.
Global markets had a mixed initial reaction to this tentative consensus. Asia-Pacific markets climbed overnight on the apparent breakthrough.
However, US stock futures inched lower, with investors also looking ahead to US May inflation data, which could influence future Federal Reserve policy.
Corporate spotlight: Inditex sales miss
On the corporate front, Zara owner Inditex reported weaker-than-expected quarterly sales on Wednesday.
The Spanish retail giant also flagged a slower start to the summer season compared to last year, citing broader economic uncertainty.
Inditex posted revenues of 8.27 billion euros ($9.44 billion) for its fiscal first quarter (February 1 to April 30), slightly below the 8.39 billion euros forecast by LSEG analysts.
Net income for the quarter came in at 1.3 billion euros, just shy of the 1.32 billion euros analysts had estimated.
In other notable news, tech billionaire Elon Musk stated on Wednesday that he regretted some of the social media posts he made last week during an explosive and highly public dispute with his formerly close ally, US President Donald Trump.
This admission follows a period of escalating tension between the two prominent figures.
