America got cheaper goods and more efficient supply chains, but became too dependent on foreign countries, said Bessent. Source: axios.com

Source: wral.com

The minutes showed an agreement among the top six senior policymakers that leaving the benchmark rate unchanged was appropriate to balance the risks of upward price pressures and a weak economy. Source: wsj.com

Fuel prices in Russia jumped again, bolstering the case for central bank policy caution after Governor Elvira Nabiullina warned that lower output in the wake of Ukrainian strikes on refineries had become a new inflation risk. Source: bloomberg.com

Kalshi traders are not agreeing with Treasury Secretary Scott Bessent’s prediction that the U.S. economy will have 3% growth this year. Source: cnbc.com

Bank of Canada officials rejected the notion that the country’s economy is in recession as they set borrowing costs earlier this month, though they acknowledged weak growth and labor market slack. Source: bloomberg.com