US President Trump, who disturbs everyone's peace with his characteristic angry outbursts, continues to comb his hair while the world burns. Trump has made the difficulties experienced by American households in terms of water conservation a personal problem for many years and declared himself as one of the victims of the restrictions on low water pressure.

Trump expressed this complaint in a meeting at the White House in 2020 by saying, "Shower heads are bad, you take a shower but the water doesn't come. You want to wash your hair but the water doesn't come. What are you going to do? You're going to stand there longer and take a longer shower. I don't know about you, but my hair has to be perfect."

Trump, whose hair has to be perfect, signed the decree lifting the restrictions on low water pressure. While Trump stated, "We're going to make America's showers great again," he also ended the water conservation regulations introduced during the Obama and Biden eras. Shower heads, toilets and dishwashers in America will now be able to operate with higher water pressure. While yellow anger solved another problem in his mind, it also showed us that his approach to natural resources, like his approach to financial resources, is within the framework of “whatever he wants”.

As you can see, this state of mind has become a scourge to the world at the level of a mental illness. Trump seems to have had to recover the world markets that he destroyed with the eco-nuclear move he started last week.

In global markets, a positive trend emerged with the increased risk appetite after Trump announced that he would stop additional tariffs for other trade partners except China for 90 days, while Trump’s latest statements regarding tariffs have somewhat relieved investors who are worried about the economic effects of the US’s trade policy. No one knows what will happen tomorrow. America, which is used to teaching the world stability and imposing work flows based on future plans, continues to struggle in great chaos.

While Russian leader Putin’s proposal to “pave the way for democratic elections” in Ukraine by establishing an interim administration under the auspices of the United Nations is one of the main topics of the talks, the US-Russia alliance system appears to be a structure based on mutual interest rather than trust.

The fact that American and Russian diplomats continue to meet in Istanbul for the mutual normalization of embassy operations, and that the first meeting symbolically took place at the Russian Consulate compound after the US Consulate residence, is another important sign that the bond between them is strengthening.

We live in a world shaped by US President Trump's rhetoric, and we have witnessed truly incredible reactions to his 90-day postponement of tariffs for countries other than China.

Therefore, we are in a process that is only in the third month of his presidency, but seems like three years to people who follow the developments. This postponement imposed on countries that have not retaliated against him may rather be aimed at isolating China and drawing countries in the nearby region to his side. The statements coming from China, on the other hand, indicate a significantly upright stance.

It is difficult to predict whether China will direct the sales it cannot make to the US, as it is normally accustomed to, to the rest of the world, especially Europe, by lowering prices. However, it is anticipated that it will put into effect a considerable incentive package in order to keep the economy afloat. We see that movements are taking place in parallel with this expectation in base metals used in industry, especially iron ore.

Inflation data in the US, on the other hand, came in below even the optimistic market expectations to a large extent, and this has made the Fed's hand much easier in terms of interest rate cuts. It is possible to say that there is a big difference between the Fed, which is expected to continue to cut interest rates in June, and what the market expects from the Fed.

As Fed Chairman Powell pointed out last week, in an environment where the permanent effects of tariffs on inflation remain unknown, two cuts are the main scenario. However, the turbulence in the market has caused investment banks to update their recession scenarios, causing the number of interest rate cut expectations to increase to 5.

We have often experienced that when such a disagreement occurs between the market and the Fed, a compromise is generally reached, but this occurs at a point closer to the Fed, so I think that the expectation of three interest rate cuts by the Fed for the rest of the year, starting in June, is reasonable at this stage.