Fed

Tokyo headline CPI rose to 1.7% in June, the first reacceleration in eight months, but the yen stayed pinned at multi-decade lows as markets weigh BoJ hike expectations against a Federal Reserve that is no longer cutting

The Fed's preferred price gauge accelerated for the third month running, with AI-driven memory and chip costs now visible in consumer price data

A hawkish Warsh Fed flips the 2025 hedge thesis; metals and crypto sell off together

The Pentagon gets $67bn, including $21bn in munitions replenishment; $11bn goes to US farmers and $1.4bn to the Ebola response in central Africa

New chair Kevin Warsh holds at 3.5–3.75% but 9 of 18 officials project at least one hike by year-end as Iran-war energy inflation pushes CPI to 4.2%

Justices signaled they may preserve birthright citizenship and block the firing of Fed Governor Lisa Cook