The Federal Open Market Committee released its decision on interest rates Wednesday, with markets expecting a three-quarter point hike.
China released economic data for May that topped muted expectations for a month hampered by Covid controls.
A senior administration official described the talks, which were held in Luxembourg, as “candid, in-depth, substantive and productive.”
Food prices and export bans have been on the rise. Rice, a staple food in much of Asia, could be next, industry watchers say.
The Federal Reserve meets next week, and while opinion is unanimous it will raise rates, markets are hinging on what Chair Powell says about future hikes.
Stocks fell as investors digested the latest inflation report.
Stocks fell on Thursday, dropping sharply in the final hour of trading, ahead of a CPI reading on Friday.
Stock futures were flat in overnight trading Wednesday after the major averages ended the regular session lower and U.S. Treasury yields rose.
The Atlanta Fed’s GDPNow tracker is now pointing to an annualized gain of just 0.9% for the second quarter.
Around 60% of 270 companies surveyed by Mercer reviewed their benefits in 2021, up from between 10% and 15% in earlier years.