Odaily Odaily reports: As four of the "Magnificent Seven" US tech giants released their earnings reports after the market close, only Alphabet (GOOGL.O) seemed to perform well enough to appease investors. Alphabet's fiscal first-quarter revenue rose 22%, reaching nearly $110 billion, surpassing analysts' expectations. Net profit was $62.6 billion, a year-over-year increase of 81%. Additionally, the company's fiscal 2025 sales reached a record $403 billion, with profits of approximately $132 billion. After exceeding earnings expectations, Alphabet's stock price rose 3.9%. Unsurprisingly, CEO Sundar Pichai attributed much of the company's growth to its underlying AI investments. Amazon, Meta Platforms, and Microsoft also reported strong growth, but their stock prices fell, with Meta declining over 5%. Meta's sales guidance was in line with expectations, and it also raised its capital expenditure plans for this year, reflecting higher component prices and, to a lesser extent, additional data center costs.

Odaily reported that U.S. Treasury Secretary Bessent stated that it would be unusual for outgoing Federal Reserve Chair Powell to remain as a Fed governor. For someone who has always emphasized norms, his unilateral decision would run counter to tradition. Kevin Warsh will bring a fresh perspective to the Federal Reserve with a clear system of accountability, effective management mechanisms, and sound policy-making.

Odaily reports that Meta has begun offering select creators the option to settle payments in USDC, allowing users to withdraw their earnings directly to wallets on Solana or Polygon.

Creators can link crypto wallets (such as MetaMask, Phantom, etc.) to receive funds. Payment services are supported by Stripe, and users may be provided with crypto-related tax reports.

Meta also cautioned that stablecoin payments carry inherent risks, and users are responsible for securing their own accounts and wallets; in the event of technical issues or special circumstances, the company may resort to alternative payment methods to complete settlements.

According to previous reports, Meta is planning to further expand its stablecoin-related operations within the year.

Odaily reported that, according to the Wall Street Journal, following some hawkish signals from Federal Reserve officials, Wall Street traders are betting on the possibility of a Fed rate hike this year, even though the odds remain low. Data from CME interest rate futures shows that traders now see an 11% chance of a rate hike this year, up from 5% earlier in the day and 0% on Tuesday, while the probability of a rate cut hovers around 2%.

According to Gate data, WTI crude oil surged 8.00% intraday, currently trading at $109.52 per barrel.

Odaily Planet Daily News: Federal Reserve Chairman Jerome Powell stated at a press conference that monetary policy may be in a neutral range with respect to its impact on the economy. He noted, “I believe we are very close to the neutral rate, which could be in the range of 3% to 4%, while the current federal funds rate target range is 3.5% to 3.75%.” He added, “If rate hikes are needed, we will signal and implement them, and vice versa.” (Jin Shi)

Odaily reported that Federal Reserve Chairman Jerome Powell stated at a press conference that he will continue to serve as a Fed governor for a period of time after stepping down as chairman. Powell noted that over the past three months, the Federal Reserve has suffered unprecedented damage, and he is determined to defend its independence. Powell made it clear that the damage he referred to was not political criticism but purely legal actions. He said, 'What has happened over the past three months leaves me no choice but to stay on.' Powell stated that the Department of Justice will not launch another investigation into him unless a criminal referral is made by the Federal Inspector General. However, Powell was not satisfied with this, saying, 'I will continue to serve as a Fed governor for a term to be determined,' and pledged to 'keep a low profile.' (Jin Shi)

Odaily Planet Daily News: Federal Reserve Chairman Powell stated at a press conference that, although some voted against maintaining the dovish stance wording in the statement during the latest monetary policy meeting, he believes officials are not inclined to raise interest rates. Powell said, "People are not saying we need to raise rates now. The discussion is more about whether the Fed should maintain a neutral stance on the policy outlook." (Jin Ten)

Odaily Planet Daily News Analysts Anna and Stuart pointed out that today's decision to keep interest rates unchanged was expected, but the dissenting opinions were striking. It is quite ironic that Powell, widely seen as a consensus-builder, presided over the meeting with the highest number of dissenting votes during his tenure as Fed Chair, which was likely his last. This policy statement also upgraded the description of inflation from "somewhat elevated" to "elevated." Coupled with the apparent divisions within the committee, this highlights the challenge Kevin Warsh faces in achieving the interest rate cuts that Trump desires. Unless there is a significant deterioration in the labor market, it is difficult to imagine this divided committee taking action to cut rates anytime soon. (Jinshi)

Odaily Planet Daily News: Federal Reserve Chair Powell stated that he will never become a shadow chair. (Jin Shi)

Odaily reported that Federal Reserve Chair Jerome Powell said he welcomes the DOJ's announcement last Friday regarding the (closure of the investigation into Powell). Over the past weekend, the DOJ provided assurances that the investigation would not be reopened unless there is a criminal referral. I will not leave until the DOJ's investigation is completely concluded. I will continue to serve as a governor after May 15th, for an undetermined period, and will leave the Fed at an appropriate time. I will serve as a governor in a low-key manner. (Jin Shi)

Odaily: Federal Reserve Chair Powell said that nominee for Fed Chair, Warsh, will serve as Chairman of the FOMC. (Jin Shi)

Odaily: Federal Reserve Chair Powell: I stand by my position; I will not leave until the Department of Justice investigation is fully concluded. I will remain as a governor after May 15. (Jinshi)

Odaily Planet Daily News: Federal Reserve Chair Powell stated that recent inflation expectations have increased, with little change in the unemployment rate. Long-term inflation expectations are consistent with the 2% target. (Jinshi)

Odaily Planet Daily: Federal Reserve Chair Powell said, "This is my last press conference as Chair. Congratulations to Warsh."