Papal Conclave Begins, US-China Trade Talks, and REAL ID Deadline

Papal Conclave Underway

• 🇻🇦 133 cardinals have entered the Sistine Chapel to begin the secretive, 800-year-old ritual of choosing a new pope.
• ⚪⚫ Black smoke signifies no decision has been made, while white smoke signals a new pope has been elected.
• ⏳ There is no time limit for the conclave, but experts suspect a decision may be reached by the end of the first full day of balloting.
• 🌍 There is a potential for a pope from the global south, with Cardinal Robert Provost (US-born, ministered in Peru) and several Asian candidates being mentioned.
• 🕊️ While diplomatic experience is noted in some contenders, the emphasis is on electing a pastor who has led a local church, not just a diplomat.
• 🙏 Pope Francis's legacy of reaching out to the poor and disenfranchised is expected to continue, with no appetite among cardinals to dial back this focus.

US-China Trade and Economic News

• 🇨🇳 Treasury Secretary Scott Bessant is heading to Switzerland for trade talks with China, acknowledging current tariffs are unsustainable.
• 📈 Fed Chair Jerome Powell is expected to hold interest rates steady, despite pressure from President Trump to cut them to address inflation.
• 🎢 Despite low consumer sentiment, Disney reported strong growth in park spending and attendance, raising its guidance.
• ✈️ The REAL ID deadline has arrived, meaning travelers without a REAL ID or accepted alternative identification may face longer security wait times at airports.

Other News and Legal Proceedings

• ⚖️ Jury selection continues in the sex trafficking and racketeering trial of Sean 'Diddy' Combs.
• ⚖️ Jury deliberations are ongoing in the state trial of three former Memphis police officers charged in the death of Tyrie Nichols.
• ⛈️ Severe storms are impacting the Southern US, with heavy rain, damaging winds, and a chance of tornadoes, particularly along the Gulf Coast.