A-share storage-chip sector opened lower; Youyan Xincai and Saiteng hit the daily limit in the opening call auction, Puran shares fell more than 11%, Jingyi Equipment and Shangluo Electronics also declined.

White House National Economic Council director Hassett criticized former Fed chair Powell for remaining on the Federal Reserve, saying Jay Powell not stepping down is "extremely unusual" and that his staying blocks the administration from nominating new Fed governors. Hassett also said most Fed voters "did not vote out of patriotism but because they wanted to remove Trump." Powell, whose board term runs to January 2028, said he will remain for now. He has said an investigation into a Fed building project appears politically motivated and in April said he would leave "when I think appropriate." The Fed board currently has only one member nominated during Trump's re‑election: new chair Kevin Warsh.

DALY said inf should begin to slow but the economic outlook is highly uncertain. The Fed is maintaining a modestly restrictive stance, which she said should help reduce inf. She said spring tariffs and oil-price increases after U.S.-Iran hostilities pushed up inf, welcomed the retreat in oil-driven pressure after a ceasefire, but warned it’s unclear how the economy will evolve. DALY outlined scenarios that could require different Fed responses and said the Fed may need to act more forcefully if inf remains persistent, while stressing the Fed must not change its dual mandate of maximum employment and price stability.