Federal Reserve Governor Jefferson: No Need to Hurry to Further Cut Interest Rates, Strong Economy Makes Caution Appropriate

On May 3rd, OpenRouter launched **Response Caching**—letting developers instantly return cached results for identical AI requests, so they don’t have to burn tokens again. Developers just need to add the `X-OpenRouter-Cache: true` request header. The first request still hits the model like normal, but subsequent identical ones bounce back cached results in 80–300ms—totally free. Compare that to uncached scenarios: - Gemini 2.5 Flash averages ~1.3 seconds - Kimi K2.6 takes ~4.6s - GPT-5.5 clocks in at ~9.1s OpenRouter says this feature works for Agent retries, automated testing, and repeated context calls. For example, if an AI workflow fails mid-run, devs can retry right away—only paying for the extra bits. The team also emphasized: **Response Caching ≠ Prompt Caching**. The latter only cuts costs for shared context, while Response Caching skips the model provider entirely. The feature is now in **Beta** and supports endpoints like `/chat/completions`, `/responses`, `

**May 3, 2026** OPEC released a statement on Wednesday, May 3, 2026. On the same day, seven OPEC+ member nations—Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman—held a virtual meeting to review global market conditions and outlook. The seven countries agreed to implement an additional **188,000 barrels per day (bpd)** production adjustment, building on the voluntary output cuts they announced in April 2023. This adjustment will take effect in June 2026. The group plans to reconvene on June 7, 2026. *Source: FXStreet*

WSJ reported on May 3 that Federal Reserve officials have shifted their internal discussions on interest rate policy—moving beyond months of rate-cut expectations to debate "under what conditions a rate hike would be needed." At the Fed’s latest policy meeting, three regional bank presidents publicly pushed back against retaining the wording that "the next step is more likely to be a rate cut." Dallas Fed President Lorie Logan noted future rate adjustments "could be a rate hike or a cut." Outgoing Fed Chair Jerome Powell also acknowledged the central bank’s stance is gradually shifting from "dovish" to "neutral," adding that if a rate hike becomes necessary later, the Fed would first transition to neutral guidance before leaning toward tightening. Persistent high energy prices, the Strait of Hormuz crisis, and escalating Middle East tensions are reigniting U.S. inflation risks and dimming market expectations for rate cuts later this year.

May 3 Renowned evolutionary biologist Richard Dawkins has sparked widespread discussion in tech and philosophy circles by publicly stating the AI model Claude “may possess consciousness.” Tech observer Aakash Gupta noted Dawkins spent 50 years explaining how “complex behavior can emerge from unconscious physical mechanisms.” Yet after days of continuous conversations with Claude, Dawkins renamed it “Claudia” and concluded it displayed “sensitivity, intelligence, and even emotion”—a claim he said ran counter to his own established theoretical framework. The controversy stems from Dawkins’ UnHerd article, where he asked: “If these machines don’t yet qualify as conscious, what more would it take to convince people?” His points included Claude’s ability to draft sonnets quickly, analyze novels, and express sentiments like “missing the user.” Critics, however, argue these are just language simulations optimized via RLHF (Reinforcement Learning with Human Feedback)—similar to evol

May 3 data from Memento Research shows monthly spending via cryptocurrency debit cards has hit $600 million—up more than sixfold over the past year. The report notes total on-chain transaction volume through crypto cards has reached $7.2 billion, encompassing roughly 24 million transactions and 1.36 million wallet addresses. Of these, about 62.5% of transactions used USDT, while some $348 million in volume occurred on the Solana network. Additionally, Jupiter’s subsidiary Jupiter Global saw over 660% month-over-month growth in its crypto card business, with cashback rates of 4% to 10% on select purchases. The report also points out that roughly 90% of crypto card payments are ultimately settled via Visa. Memento Research stated that stablecoins are increasingly emerging as the underlying settlement infrastructure for the global consumer payments ecosystem.

Per a Reuters investigation, Iran’s largest cryptocurrency exchange Nobitex was founded by brothers Ali and Mohammad Kharrazi. The pair used the alias “Aghamir” for company registration and operations to downplay their ties to Iran’s influential Kharrazi family. The Kharrazi family has long had close ties to Iran’s Supreme Leader system, including links to Ali Khamenei and his heir apparent Mojtaba Khamenei. The brothers’ grandfather was a member of the Assembly of Experts (which appoints the Supreme Leader) and a mentor to Mojtaba; their father helped establish Iran’s political group Hezbollah and played a role in forming the Islamic Revolutionary Guard Corps (IRGC). Nobitex currently has over 11 million users and continues operating even amid nationwide internet shutdowns and periods of conflict in Iran. Analysts estimate the platform processed more than $100 million in crypto transactions during the conflict, with a large portion of funds flowing overseas. Blockchain analyt