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Divided He Falls. But Stays.
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Thursday 30th April 2026
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Oil continues to lurch higher, getting close to $120 this session, the highest since the closure of the Hormuz Strait. There’re no signs of progress, infact President Trump is indicating he’d prefer to wait until his blockade has an impact on Iran. That could take some time. Meanwhile, the Fed kept rates on hold in Jerome Powell’s last meeting as chair, with a divided board. Several objected to the neutral tone of the guidance, which suggested the next move is more likely to be down that up. Meanwhile Powell announced he will stay as a Governor for now. NAB’s Gavin Friend joins Phil to discuss this, also a dovish hold from the bank of Canada, and a look ahead to the ECB and Bank of Enfgland. Sand don’t forget the mega-cap earnings coming up.
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