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New Diplomacy on the Horizon: U.S. and Russia Push Ahead Without Ukraine

  In a bold shift from previous diplomatic efforts, top U.S. and Russian officials have agreed to advance negotiations aimed at ending the war in Ukraine—even as Ukrainian representatives remain notably absent. High-level talks held in Riyadh, Saudi Arabia, saw U.S. Secretary of State Marco Rubio and Russian Foreign Minister Sergey Lavrov discussing the framework for future peace negotiations and steps toward restoring bilateral relations. The Trump administration’s approach, which prioritizes direct engagement with Moscow, marks a departure from longstanding principles that insisted on “nothing about Ukraine without Ukraine.” Critics in Kyiv have voiced strong opposition. Ukrainian President Volodymyr Zelenskyy warned that any agreement reached without Ukraine’s participation would be unacceptable and would undermine the nation’s sovereignty. European leaders echoed these concerns, with several officials labeling the move as a dangerous precedent that could lead to a “dirty deal...

Persistent Inflation Halts Interest Rate Cuts


The U.S. Federal Reserve has resolved to maintain interest rates at a two-decade peak of approximately 5.3%, citing the need for “greater confidence” that inflation is decelerating sustainably towards its 2% target. Despite recent data suggesting inflation was on the decline, several reports have indicated that price increases and economic growth are still more robust than anticipated, challenging the Fed’s expectations.

Key Points:

  • Inflation’s Stubbornness: Recent months have not shown significant progress towards the 2% inflation goal.
  • Rate Cut Projections Shift: Previously expected rate cuts in 2024 may be delayed, with financial markets anticipating only one reduction later this year.
  • Economic Optimism: Chair Jerome Powell expects inflation to decrease over the year, despite the current economic challenges.
  • Policy Adjustments: The Fed plans to slow down the unwinding of its COVID-era bond purchases, aiming to reduce its holdings at a gentler pace.

This stance comes amidst concerns that persistent inflation could jeopardize President Joe Biden’s re-election campaign, as many Americans express dissatisfaction with the economy’s performance, particularly the pace of price increases. The Fed’s cautious approach reflects its commitment to ensuring inflation targets are met before introducing any rate cuts, which would eventually lead to lower borrowing costs for consumers and businesses.

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