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Fed's Schmid: Inflation Biggest Risk, May Need Higher Rates
Kansas City Fed President Jeffrey Schmid named inflation the top threat to the US economy and hinted that further rate hikes might be necessary to control price pressures.
Gold Rises Over 1% as Oil Slide Eases Inflation Concerns
Gold (XAU/USD) gained more than 1% on Thursday, driven by a sharp decline in oil prices that reduced inflationary pressures and supported risk appetite amid hopes for a US-Iran resolution.
Fed's Schmid: Interest Payments Eat $1 in $7 of Spending, AI Aids Rural Economies
Federal Reserve Bank of Minneapolis President Neel Kashkari (note: this is an error in the source, should be Schmid) warns that interest on federal debt now consumes one-seventh of federal spending, calling for a fix. He also says AI could boost rural areas by lowering barriers to remote entrepreneurship.
Fed's Schmid: Energy Costs a Key Inflation Driver, Oil Prices a Political Factor
Federal Reserve Bank of St. Louis President James Schmid said that energy costs remain a major driver of inflation, adding that the duration of high oil prices is a political variable as the central bank continues its longstanding fight to bring inflation down.
Fed’s Daly: Inflation Still Driven by Energy and Tariffs, Policy Focused on 12-Month Outlook
San Francisco Fed President Mary Daly stated that current inflation pressures remain driven by energy prices and tariff effects, and that monetary policy is focused on the 12-month outlook rather than long-term AI impacts.
Fed's Daly: Inflation Remains Top Priority, Outlook Uncertain
San Francisco Fed President Mary Daly reiterates that returning inflation to target is the Fed's primary concern, while highlighting uncertainty over the economic outlook and the path of interest rates.
Nvidia and Chip Index Diverge on Nearly Half of Trading Days
Nvidia (NVDA) and the Philadelphia Semiconductor Index (SOX) have moved in opposite directions on roughly 50% of trading sessions over the past 50 days, the highest divergence since the 2022 bull market began.
VTB Proposes Attracting Asian Investors for Large Russian Projects
At the St. Petersburg International Economic Forum, VTB deputy chairman Vitaly Sergeychuk suggested partnering with Asian investors, particularly Chinese, to fund capital-intensive projects through a model that exchanges financing and technology for long-term product purchase contracts.
S&P 500 ETF VOO First to Hit $1 Trillion in AUM
The VOO ETF has become the first exchange-traded fund to surpass $1 trillion in assets under management, fueled by $69 billion in inflows so far in 2026.
BNY: Middle East Conflict Now Main Driver of Global Outlook
BNY's Bob Savage says the OECD sees the Middle East conflict as the primary shaper of the global outlook, with surging energy and input prices boosting inflation and weighing on growth.
Alfa-Bank Partners with DelExpress, Increases Credit Limit for Logistics Investments
Alfa-Bank has signed a strategic partnership agreement with logistics operator DelExpress, including a credit limit increase to support two new investment projects in the fertilizer and automotive sectors.
Russia's Central Bank Weighs Restrictions on Early Redemption of 'People's Bonds'
The Bank of Russia is considering revising the terms of 'people's bonds', with First Deputy Chairman Vladimir Chistyukhin discussing possible restrictions on early redemption in an interview with Radio RBC.
Russia and US to Sign Agreement on Alaska-Chukotka Tunnel Design
Russia’s special envoy Kirill Dmitriev announced at the St. Petersburg International Economic Forum that Russia and the US will sign an agreement to design a tunnel connecting Chukotka and Alaska.
Russia eyes top-3 global quantum tech position by 2030s
Ekaterina Solntseva, Rosatom's director for quantum technologies, says Russia has coordinated efforts nationwide — akin to the 1940s atomic project — and is now targeting the top three quantum nations within the next decade.
US Think Tanks Propose New Cyber Force Branch with $10-11B Budget
A joint report by the Center for Strategic and International Studies (CSIS) and the Foundation for Defense of Democracies (FDD) recommends creating a separate Cyber Force under the US Department of Defense, consolidating digital resources from Cyber Command and other branches. The new unit could reach initial operational readiness in 12-18 months with a starting budget of $10-11 billion.
Ostrovok Valuation Estimated at 20-30 Billion Rubles Amid Tourism Boom
Experts value Russian hotel booking service Ostrovok at 20–30 billion rubles. A potential sale comes as the tourism sector sees strong growth, with collective accommodation revenues up 16% YoY, exceeding 1 trillion rubles.
Venezuela's Crude Oil Exports Surge 61% YoY to 1.25M bpd, Highest in 7 Years
Venezuela's crude oil exports jumped 61% year-on-year in May to 1.25 million barrels per day, the highest level in seven years, driven by rising shipments to the US, India, and Europe after sanctions eased.
Russia's 'Priority 2030' Program Aims to Address Tech Challenges, Says Official
A Russian official stated that the 'Priority 2030' program is designed to create a trigger for understanding markets and the lack of resources, aiming to efficiently use resources to respond to foreign technological challenges.
OPEC Sees Slowing Oil Demand Growth Due to Middle East Conflict, Calls It Insignificant
OPEC acknowledges a slowdown in oil demand growth linked to the Middle East conflict but views the impact as minor. The organization expects the global oil supply-demand balance to normalize by the end of 2026.
Sberbank Executive: Agent AI Could Strengthen Market Concentration Around Major Platforms
Sberbank First Deputy Chairman Alexander Vedyakhin said that the development of agent AI may increase market concentration around the largest platforms, while also creating opportunities for new AI-native companies.
AI Chiefs Urge US Law for Synthetic DNA Screening
Leaders from OpenAI, Anthropic, Google DeepMind, and Microsoft AI have signed an open letter calling for US legislation to mandate screening of synthetic DNA and RNA orders and customer verification.
MicroStrategy Faces Record $10.8B Unrealized Loss on Bitcoin Holdings
MicroStrategy's Bitcoin investment has hit a record unrealized loss of $10.8 billion, with the company now down 17% on its position after six years. The news comes as MSTR stock trades 77% below its all-time high.
Kaspersky Lab Developing 'Unhackable' Phone Running Own OS
Kaspersky Lab CEO says the company is working on a smartphone that is impossible to hack, featuring a proprietary operating system and hardware.
Novak: Global Oil Crisis Unprecedented, 12M Bpd Supply Gap Could Lead to Deficit
Russian Deputy Prime Minister Alexander Novak said the current global oil crisis is unprecedented, with roughly 12 million barrels per day not reaching the market. He warned that a deficit could occur within months if the conflict persists, as Gulf producers cannot increase output if key straits remain blocked.