Former President Donald Trump has introduced Project Freedom, an initiative designed to guide neutral vessels safely through the Strait of Hormuz, amid escalating tensions with Iran. The operation, set to begin on May 4, will involve the deployment of U.S. military assets, including guided-missile destroyers, over 15,000 troops, and more than 100 aircraft. Despite this military backing, U.S. officials clarified that there will be no formal naval escorts for the ships, framing the initiative as a humanitarian effort. However, Iran's parliament has outright rejected Project Freedom, labeling it a breach of ceasefire agreements. In related developments, the Federal Reserve's Minneapolis President, Neel Kashkari, indicated that the ongoing conflict could lead to inflationary pressures that may necessitate interest rate hikes. On the economic front, Australia and Japan have signed agreements focusing on economic security, critical minerals, and defense cooperation. Additionally, Bitcoin has surged past $80,000 for the first time since January, providing a positive signal amid the geopolitical tensions. The Reserve Bank of Australia's rate decision is expected to be announced soon, with a hike widely anticipated.