Bloomberg Economics

Kevin Warsh, newly appointed as Federal Reserve chair by President Donald Trump, faces questions about his leadership style during his first meeting. Analysts debate whether he will push for changes through persuasion or force, with the Fed expected to maintain current interest rates while signaling a potential shift toward tighter monetary policy.

Bloomberg News retracted a June 2 story due to an incorrect analysis by Bloomberg Economics, which used same-day domestic gold prices instead of the previous day’s London Bullion Market Association price. The error led to a misrepresentation of the Reserve Bank of India’s gold reserves, which remained unchanged in May.

Jerome Powell's legacy as Federal Reserve Chairman is marked by his handling of inflation and standing up to President Donald Trump, with the US economy transformed after eight tumultuous years. Inflation soared after the pandemic and has remained above the Fed's target for over five years. Powell will continue serving on the governing board until he is confident the Fed's independence is restored.

Saudi Arabia's first-quarter budget deficit, the largest since late 2018, reflects both the impact of the Iran conflict and deliberate policy choices to accelerate investments in alternative trade routes. The government increased capital spending by 56% and defense outlays by 26% to support the non-oil economy amid war-driven uncertainty, while still potentially achieving a lower full-year deficit than the previous year's 5.8% of GDP.