Given the impact of President Donald Trump’s tariffs, we want to wait another couple of months or more to get a clearer picture of what inflation is going to look like,” the Fed also cut its forecast for US GDP this year to 1.4% from a previous estimate of 1.7% and raised its inflation forecast for this year to 3.1% from a previous estimate of 2.8%.
While Iran's Supreme Leader Ayatollah Ali Khamenei has rejected President Trump's demand for Iran to surrender unconditionally, President Trump said that Iranian officials have contacted him for talks, but Trump said "it's too late to talk." SPDR Gold Trust bought 1.43 tonnes of gold for a net total of 947.37 tonnes. Economic figures to watch are the Bank of England (BoE) meeting.
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