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Hello there.
Happy Monday, muchachos! Ya’ll hear about that stranger that just rode into town?
🤠 “Don’t Worry, It’ll Come Out in the Warsh”
⚡️ You Used to Call Me on My Trump Phone
⛽ Two Dimes or Four Nickels; Your Pick
₿ Is the Trump Family Single-Handedly Keeping Coins Alive?
🏛 Political Portfolio Spotlight: Rep. Byron Donalds (R-FL)
Some say he’s an outlaw, some say he’s one of the good ones. Time will tell, but did you see that big iron on his hip? 👀
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🤠 New Sheriff at the Fed
The Senate confirmed Kevin Warsh as the next Federal Reserve chair on Wednesday, but it wasn't exactly a warm welcome. The vote was 54-45, making it the closest confirmation for a Fed chair in modern history. Basically, almost half the Senate rejected the guy who's about to control interest rates and, you know, a huge chunk of the economy.
Warsh takes over this Friday when Jerome Powell's term ends, and he's walking into a situation that's kind of a disaster. Gas prices are sky-high because of the war, inflation is climbing again, and Trump has been extremely vocal about wanting lower interest rates ASAP.
Warsh previously said he wants to bring "regime change" to the Fed, which sounds dramatic but mostly means he wants to change how the central bank communicates and operates. His first big test is the Fed meeting in mid-June, where he'll have to decide whether to cut rates (which Trump wants), keep them the same (to see how the Iran situation plays out), or potentially raise them (if inflation gets worse).
The vibes are weird because Trump has been pressuring the Fed hard, even launching a Justice Department investigation into Powell over building renovations. Powell's staying on the Fed's board of governors even after stepping down as chair, which is super unusual and probably means he doesn't trust Warsh to protect the Fed's independence, but that’s a problem we’ll revisit in June. Fun times ahead! 🙃
❓ Market Trivia
Where is the NASDAQ located?
⚡️ The Policy Pulse
The Trump Phone is finally shipping after almost a year of delays, as the $499 gold-plated device is now heading to customers who put down deposits.
Generic Ozempic won't hit the US until at least 2031, thanks to patent loopholes, even though India and Canada already have cheaper versions.
FDA Commissioner Marty Makary resigned after clashing with the Trump administration over flavored vapes.
JPMorgan's Jamie Dimon said the bank might reconsider its massive new London office if the UK gets a government that's "hostile to banks."
The DOJ is dropping fraud charges against Indian billionaire Gautam Adani after he hired Trump's personal lawyer and offered to invest $10 billion in the US economy.
⛽ Trump Wants a Gas Tax Holiday
President Trump announced this week that he wants to suspend the federal gas tax to help Americans deal with gas prices that have shot up to $4.52 per gallon on average. The federal government charges 18.4 cents per gallon on gas and 24.4 cents on diesel, and Trump thinks pausing that tax would give people relief at the pump.
Plot twist: he can't actually do this on his own. Congress has to approve it, and they've literally never done it before, even when gas prices were terrible in the past.
Thing is, this probably won't help much, even if it happens:
First, gas stations and companies in the supply chain don't usually pass the full savings on to customers (remember tariff refunds?), so you might only see a fraction of that 18 cents knocked off the price you pay.
Second, that tax money pays for fixing highways and roads through something called the Highway Trust Fund, which already doesn't have enough money. Suspending the tax would cost about $17 billion and leave the fund completely broke by 2028.
Third, the real problem is that oil tankers can't get through the Strait of Hormuz because of the war, so cutting the tax doesn't fix the actual shortage that’s driving prices up.
Some states, like Georgia and Indiana, have already paused their state gas taxes, and other states are “thinking about it” (the government’s favorite way to work). There's a chance something will happen at the federal level. But a lotta experts are saying this is basically a band-aid on a bullet wound.
Trump keeps saying gas prices will "drop like a rock" once the war ends, but the Iran ceasefire is reportedly hanging on by a thread, so don't hold your breath for any joy rides this summer.
₿ The Coin Toss
Trump's financial disclosures show dozens of trades in crypto-linked companies like Coinbase and Strategy during Q1.
Bitcoin is stuck below its 200-day average as Treasury yields hit 12-month highs, basically meaning safer investments are looking more attractive right now.
The Senate Banking Committee advanced the Clarity Act, a major crypto bill that would finally set clear rules for which coins count as securities.
Three men from Tennessee face federal charges for robbing crypto investors across California using fake food deliveries and violent home invasions.
Only 4% of voters say crypto policy matters when picking candidates for the midterms, with most people way more focused on housing costs and bank fees.
😆 Meme of the Day
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🏛 Political Portfolio Spotlight
Elected officials have had a tremendous amount of success in the market recently.
We want to keep you updated on what they’re trading and when so you can leverage that intel as you plan out your own portfolio.
Trading data brought to you by our partners at AltIndex.
Remember to always DYOR.
Rep. Byron Donalds (R-FL)
💲 Top Trades This Week:
🔍 Analysis:
Donalds’ trades this week show a clear rotation out of consumer and software stocks and into AI-related chips and healthcare.
The Marvell purchase stands out most. The company is heavily tied to AI infrastructure and semiconductor demand, and the stock has surged since the trade. Eli Lilly adds exposure to healthcare and the fast-growing weight loss drug market.
This looks like moving money away from mature consumer and software companies and toward sectors investors see as having stronger future growth potential, especially AI and healthcare.
Rep. Byron Donalds (R-FL)
That’s all for today. Write us and let us know your thoughts on the market, the newsletter, or the weather—we’d just love to hear from you.
Till next time,
— Brandon and Blake with Invested Inc.
Disclosures:
The information provided in Finance Wrapped is for informational and educational purposes only and should not be construed as financial advice, investment advice, or a recommendation to buy or sell any securities. Finance Wrapped is not a registered investment advisor, broker-dealer, or licensed financial planner. Always do your own research and consult with a licensed financial advisor before making any investment decisions. We may hold positions in or receive compensation from the companies or products mentioned. Disclosures will be made where applicable. Past performance does not guarantee future results.
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