On April 23, Hassett, the Director of the National Economic Council at the White House, expressed support for Federal Reserve Chairman Powell's plan—that if Powell's successor is not confirmed by the Senate by the end of his term in May, he will temporarily remain in the position of Fed Chairman. Hassett stated on Wednesday, 'I think this is an appropriate legal interpretation.' Trump has nominated Waller to succeed Powell, but Republicans currently do not have enough votes to move the nomination from the Senate Banking Committee to the Senate for a confirmation vote. Republican Senator Thom Tillis indicated that he would delay the vote until the Justice Department halts its so-called 'false' investigation into the cost overruns of the Fed building renovation project. In discussing Waller, Hassett remarked, 'We are very confident he will become Chairman at the appropriate time. I believe there will be discussions on how to proceed.'
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Hassett Supports Powell's Explanation on Remaining as 'Acting Chair of the Fed'
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UK cracks down on illegal peer-to-peer crypto trading in nationwide raids
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Sources: U.S. Justice Department Expected to Drop Criminal Investigation into Powell
On April 24, multiple informed sources revealed that the U.S. Justice Department is expected to conclude its criminal investigation into Federal Reserve Chairman Jerome Powell as early as Friday, thereby ending a stalemate that could have delayed the appointment of Powell's successor. Sources indicated that senior officials from the Justice Department recently contacted several senators, including Republican Senator Thom Tillis, a member of the Senate Banking Committee, to inform them of the plan to abandon the investigation into alleged cost overruns related to the renovation of the Federal Reserve's Washington headquarters, and to refer the matter to the Federal Reserve's internal oversight body. Powell's term is set to end next month, but he stated in March that he would remain until Trump's nominee for Federal Reserve Chair, Waller, is confirmed. (ABC News) -
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On April 24, U.S. stock indices opened higher across the board, with the Dow Jones up 0.02%, the S&P 500 rising 0.4%, and the Nasdaq increasing by 0.73%. Intel surged approximately 23%, reaching a record high; the company expects second-quarter revenue between $13.8 billion and $14.8 billion, while the market estimate is $13.04 billion. AMD rose over 10%, and Arm increased more than 8%. Nvidia's stock price rose by 0.11%, while Google's Class A shares fell by 0.49%. Apple's stock price decreased by 0.61%, Microsoft’s stock rose by 0.47%, Amazon's stock increased by 1.42%, Meta Platforms Inc Class A shares fell by 0.34%, Tesla's stock remained unchanged, and Netflix's stock dropped by 0.92%. -
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Central Bank and Eight Departments: Prohibit Online Marketing Services for Virtual Currency Issuance and Trading
On April 24, the People's Bank of China and eight other departments jointly issued the "Regulations on the Management of Online Marketing of Financial Products," which will take effect on September 30, 2026, systematically regulating online marketing activities for financial products. The regulations specify that only approved financial institutions and their self-operated platforms, as well as entrusted third-party internet platforms, may engage in online marketing of financial products. It prohibits providing online marketing services for illegal financial activities such as illegal fundraising, virtual currency issuance and trading, and illegal foreign exchange margin trading. The regulations detail requirements regarding the authenticity of marketing content, risk disclosure, algorithm recommendations, pop-up advertisements, account naming, trademark usage, cooperation models, and the protection of data and personal information. They also clarify the regulatory responsibilities and penalties for financial management departments, internet information, telecommunications, and market supervision departments. -
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DeepSeek-V4 Preview Version Officially Launched and Open-Sourced
On April 24, DeepSeek announced via its official WeChat account that the preview version of the new model series DeepSeek-V4 is officially online and open-sourced. DeepSeek-V4 features a million-word ultra-long context and leads in agent capabilities, world knowledge, and reasoning performance in both domestic and open-source fields. The model is available in two versions based on size. Starting today, users can log in to the official website chat.deepseek.com or the official app to interact with the latest DeepSeek-V4 and explore the new experience of 1M ultra-long context memory. The API service has also been updated; by changing the model_name to deepseek-v4-pro or deepseek-v4-flash, users can access it. -
Intel CEO: Semiconductor Potential Market Size Approaching $1 Trillion
On April 24, local time, after the U.S. stock market closed on April 23, Intel officially released its Q1 fiscal year 2026 financial report and held an earnings call. The company delivered its sixth consecutive quarter of better-than-expected results, with revenue, gross margin, and earnings per share all surpassing guidance. The AI business has become the core growth engine, with a surge in demand for server CPUs and advancements in advanced processes and packaging exceeding expectations. Following this financial report, Intel's stock price surged nearly 20% in after-hours trading. During the earnings call, Intel CEO Pat Gelsinger stated that despite continuous improvements in factory capacity, demand across all business segments remains higher than supply, particularly for Xeon server CPUs, which are expected to maintain strong growth momentum over the next two years. Gelsinger also noted, 'In recent years, the focus in high-performance computing has been almost entirely on graphics processors and other accelerators. In recent months, clear signs have shown that central processing units are becoming an indispensable foundation in the era of artificial intelligence.' Looking at the overall market, Gelsinger anticipates that driven by explosive growth in AI demand, the overall potential market size of the semiconductor industry is approaching $1 trillion. However, Intel's management also warned that the company still faces multiple pressures, including declining demand in the PC market, rising costs, expanding capital expenditures, and supply constraints. (Dongxin News Agency)
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