Trump's Easter Sunday Ultimatum
On April 5, 2026, former U.S. President Donald Trump posted a profanity-laced ultimatum on Truth Social, warning Iran to reopen the Strait of Hormuz by Tuesday, April 7, or face U.S. airstrikes on its power plants and bridges. The message read: "Tuesday will be Iran's Power Plant Day and Bridge Day, all combined into one. Nothing like it!!! Open the damn strait, you crazy people, or you will live in hell – just watch! Praise Allah." The post was immediately picked up by multiple major news outlets.
Strait of Hormuz blockade and energy risks
The Strait of Hormuz carries about 20% of the world’s oil supply. Iran has been blocking or severely disrupting shipping through the waterway since late February 2026 as retaliation for U.S. and Israeli strikes under Operation Epic Fury. Trump has issued several ultimatums during the conflict; some deadlines passed without Iran fully complying. The Easter Sunday timing and the phrase "Praise Allah" drew immediate attention due to its profanity and tone.
Trump confirms arming protesters through Kurdish channels
Separately, in a nearly 15-minute interview with Fox News correspondent Trey Yingst, Trump confirmed that the U.S. secretly sent weapons to anti-government protesters in early 2026. "We sent guns to the protesters. A lot of them," Trump said. "We sent them through the Kurds. And I think the Kurds kept the guns." He also claimed that Iranian security forces killed about 45,000 protesters during the crackdown earlier this year, part of widespread internal pressure on the Iranian government amid the ongoing conflict.
Oil surges above $110, Fed rate-cut expectations vanish
Oil prices have climbed above $110 per barrel as the U.S.-Iran war reshaped the Federal Reserve’s outlook. Market expectations for a 2026 rate cut have completely evaporated ahead of the April 29 FOMC decision. The Fed is now expected to hold rates steady. Investors fear that prolonged energy supply disruptions will fuel inflation and further limit monetary easing space.
Military escalation continues
U.S. and Israeli forces have already struck Iranian naval assets, air bases, missile sites, and military leadership targets during Operation Epic Fury. Iran has retaliated with missile and drone attacks. Internal Iranian reports indicate regime instability, including the deaths of senior leaders and the emergence of a new president who reportedly seeks a ceasefire. Trump previously stated that airstrikes would continue or expand until the Strait is "open, free, and safe."