Stablecoins ‘perform poorly’ as money, central banks warn

Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world Top central bankers have delivered a scathing assessment of stablecoins, saying they “perform badly” on key requirements for being widely used as money, disavowing US President Donald Trump’s push to make them a … Read more

Last call for Tacos?

This article is an on-site version of our Unhedged newsletter. Premium subscribers can sign up here to get the newsletter delivered every weekday. Standard subscribers can upgrade to Premium here, or explore all FT newsletters Good morning. The US stock and bond markets didn’t care much about the US strikes in Iran. The S&P 500 … Read more

Congress weighs multibillion-dollar tax cut for private credit investors

Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world Policymakers in Washington are considering a multibillion-dollar tax break for private credit funds as part of President Donald Trump’s flagship spending plan, even as the bill would swell US debt and cut programmes … Read more

Federal Reserve official Michelle Bowman calls for interest rate cut as soon as July

Stay informed with free updates Simply sign up to the US interest rates myFT Digest — delivered directly to your inbox. Federal Reserve vice-chair for financial supervision Michelle Bowman has called for an interest rate cut as soon as July, saying President Donald Trump’s trade war would have a smaller effect on inflation than some … Read more