$BTC The biggest news yesterday was that the Federal Reserve maintained the federal funds rate at 4.25% to 4.5%, which matched market expectations. However, President Trump called for a rate cut, while tariffs pose a threat to inflation, raising concerns in the markets about the tension between these two factors.

As a sign that tariff tension may ease, President Trump today announced a trade agreement with the United Kingdom, which is actually more of a framework agreement with details to be discussed later. The agreement reduces some import tariffs on pharmaceuticals and automobiles, leaving a 10% tariff on all imports.