April’s Consumer Price Index (CPI) rose 0.6% monthly and 3.8% annually, marking the highest inflation since May 2023. Core CPI exceeded expectations at 0.4% monthly and 2.8% annually. Real wages fell, raising stagflation concerns amid high energy costs; gasoline prices surged 28.4% year-over-year. Despite the inflationary print, both stocks and Bitcoin regained ground after an initial dip. With Kevin Warsh set to take over the Federal Reserve, the chance of rate hikes in 2026 jumped notably, suggesting cuts are unlikely soon. The Senate unveiled the Clarity Act, a 309-page crypto bill now under committee review. The draft lacks ethics provisions relating to Trump’s crypto dealings, imperiling Democratic support. Over 100 amendments have been filed; major labor unions oppose the bill, citing pension risks. Market analysts link major Bitcoin price targets to the Act’s passage. JPMorgan filed for its second tokenized money market fund on Ethereum (JLTXX), targeting stablecoin issuers’ reserves, entering direct competition with BlackRock and Morgan Stanley for leadership in the growing $320 billion stablecoin market. Ethereum developers launched Clear Signing, an open standard to prevent blind signing and address longstanding security flaws exploited in major crypto hacks.