The euro zone economy is in the midst of a mid-sized inflation shock, with inflation holding above 3% for the rest of the year, a situation that requires a “measured” policy response, European Central Bank Chief Economist Philip Lane said on Friday.
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U.S. Federal Reserve Chairman Kevin Warsh put his stamp on the job fast this week at a debut policy meeting that produced a return to stripped-down, 1990s-style central banking, before this century’s crises put the Fed center-stage in economic management and turned its leader into a consoler-in-chief for Wall Street and Main Street alike.
Brent crude ticked slightly higher on Friday but was still on track for a more than 8% weekly decline after Israel and Hezbollah agreed to a ceasefire and tanker traffic through the Strait of Hormuz increased.
The dollar held firm against most peers on Friday, as a peace deal between the U.S. and Iran hung in the balance, pinning the yen around a two-year low, a break beyond which would take the Japanese currency to its weakest in 40 years.
When Donald Trump was sworn in for his second term as U.S. president in 2025, Italian Prime Minister Giorgia Meloni was the only European leader invited to attend, promising the start of a golden age in relations between Washington and Rome.
Global shares dipped on Friday after U.S. and Iranian negotiators called off peace talks, while the risk of official Japanese intervention simmered as the yen traded on the brink of a 40-year low.
At least 30 people have died since the start of May in one camp for displaced civilians in northeastern Congo, a death rate that camp officials said was unprecedented, and, because of the symptoms, could indicate Ebola is spreading fast there.
A diplomatic overture to the Kremlin by European Council President Antonio Costa has exposed divisions at a summit of EU leaders over how to handle relations with Russia even as the war in Ukraine shows no signs of ending soon.
U.S. Vice President JD Vance is poised to take on his biggest role yet on the international stage as President Donald Trump’s chief negotiator to end the three-month war with Iran, a moment that could shape Vance’s prospects as a White House successor.