The White House has confirmed Walsh as the new Chair of the Federal Reserve. This announcement coincides with the U.S. Producer Price Index (PPI) for April rising 6.0% year-over-year, marking the fastest increase since 2022. Following the PPI release, U.S. Treasury yields surged to a 10-month high. In the crypto sector, OSMO and BB tokens led gains with increases of 19.07% and 18.25%, respectively. Meanwhile, DeFAI saw a modest rise of 0.81%. In U.S. equities, department stores experienced a notable uptick, climbing 3.42%.