Trump’s Trade War Raises Bar for Fed Rate Cuts

President Trump’s global trade war has significantly raised the bar for the Federal Reserve to lower interest rates, as tariffs risk worsening an already knotty inflation problem while also damaging growth. Jerome H. Powell, the Fed chair, drove home that message in a hotly anticipated speech that came at the end of a turbulent week…

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Ukraine Questions Value of Black Sea Truce With Russia

The Ukrainian Navy patrol boat zipped across the Black Sea, its double-barreled, 25-millimeter machine gun locked on the horizon. The enemy, Russia, was nowhere in sight, yet ever-present. In the command room, Captain Mykhailo and his crew scanned screens showing color-coded zones marking Russian mine-laden waters and red arrows tracking drones prowling the area. The…

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