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"Fed Mouthpiece" Nick Timiraos: In June, The U.S. Core PCE Rose 0.13%, Marking The Most Modest Monthly Increase Since March 2025 (at An Annualized Rate Of 1.6%); The Three-month Annualized Rate Stood At 2.9% (compared With 2.8% A Year Earlier); The Six-month Annualized Rate Was 3.8% (versus 3.1% Last Year); And The 12-month Change Came In At 3.3% (up From 2.8% A Year Ago)
White House National Economic Council Director Hassett: I Am Very Optimistic That The Federal Reserve's Policies Are Moving In The Right Direction
White House National Economic Council Director Hassett: Warsh's Job Has Been Made Easier By Today's Inflation Data
White House National Economic Council Director Hassett: (When Asked After The Release Of The PCE Data Whether He Still Had Confidence In Federal Reserve Chairman Warsh) Of Course
The Main Coking Coal Futures Contract Continued To Weaken, Falling 3.00% Intraday, And Is Currently Trading At 1199 Yuan/ton
The Main Coking Coal Futures Contract Fell By 2.00% During The Day, Currently Trading At 1787.00 Yuan/ton
The Main Coking Coal Futures Contract Fell By 2.00% During The Day, Currently Trading At 1209.50 Yuan/ton
According To Agricultural Consultancy Datagro, Brazil's Soybean Production For 2026/27 Is Projected At 185.6 Million Tons, Compared To 182.8 Million Tons In The Previous Year; Second-crop Corn Production For 2026/27 Is Projected At 118.1 Million Tons, Compared To 115.5 Million Tons In The Previous Year; And Total Corn Production For 2026/27 Is Projected At 147.5 Million Tons, A 2% Increase Over The Previous Year
Bank Of England Governor Bailey: Due To Tariffs, The UK May Be Affected By The Downward Impact Of Changes In The Trade Environment On Commodity Prices
Russia's Central Bank Gold And Foreign Exchange Reserves Stood At USD 732.1 Billion For The Week Ending July 24, Up From USD 722.9 Billion In The Previous Week
Bank Of England Governor Bailey: We Need To Closely Monitor The Development Of The El Niño Phenomenon
Bank Of England Governor Bailey: Do Not Expect The Bank Of England To Be Close To Raising Interest Rates
Bank Of England Governor Bailey: We Should Learn Something From The Weaker Transmission Effect
Bank Of England Governor Andrew Bailey: I Hope Everyone Leaves This Room Without The Impression That The Bank Of England Is Steadily Moving Toward Raising Interest Rates
The Fed's Preferred PCE Inflation Gauge Fell For The First Time Since The Onset Of The Pandemic, But The Risks Remain Far From Over

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Bank of England Governor Bailey held a press conference on monetary policy.
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US-brokered Ukraine-Russia talks yield a prisoner swap, but deep divides on territory and security obstruct peace.

Russian and Ukrainian officials are engaged in a second day of U.S.-brokered negotiations aimed at ending the war, but major disagreements over Ukrainian territory and future security guarantees remain significant obstacles.
The talks, held in Abu Dhabi, have produced one small sign of progress: an agreement for another prisoner-of-war exchange. Steve Witkoff, the White House envoy leading the U.S. mediation effort, announced on February 5 that a total of 314 prisoners would be released. This move offers a rare moment of consensus in a conflict that has reportedly killed or wounded nearly 2 million people since Russia’s invasion on February 24, 2022.
Ahead of the meetings, both sides hinted at the possibility of a breakthrough. Kirill Dmitriev, the Kremlin's lead negotiator, mentioned "progress" and positive movement on February 5. His Ukrainian counterpart, Rustem Umerov, described the first day of discussions as "meaningful and productive, focusing on concrete steps and practical solutions."
Despite these optimistic statements, Russia’s military actions continue unabated. On the eve of the talks, Russia launched one of its largest aerial assaults of the war, targeting Ukraine's energy infrastructure and compounding the suffering of civilians in the middle of a harsh winter.
Kremlin spokesman Dmitry Peskov reinforced Moscow's firm stance, telling reporters that Russia's position remains unchanged and is "absolutely clear and well understood by both Kyiv and the American negotiators."
The gap between Moscow and Kyiv has narrowed slightly, but fundamental disagreements persist. The negotiations are centered on two critical issues that have stalled previous efforts.
The Status of Donbas
The primary point of contention is the territory in Ukraine's Donbas region that Kyiv currently controls but Moscow claims as its own. Ukrainian President Volodymyr Zelenskyy has proposed creating a demilitarized zone, potentially monitored by European peacekeepers, but Russia has unequivocally rejected this proposal.
Future Security Guarantees
Kyiv is also demanding binding security guarantees from the United States and other Western allies. These guarantees would legally obligate other nations to intervene if Russia were to launch another attack in the future.
Ukrainian political analyst Ihor Reiterovych has urged the West to provide strong assurances and avoid repeating the mistakes of the 1994 Budapest Memorandum. That agreement, signed by the U.S., Russia, and Britain, was supposed to guarantee Ukraine's territorial integrity in exchange for the country giving up its nuclear arsenal.
Analysts remain skeptical about the prospects for a comprehensive settlement. Markus Ziener, a fellow with the German Marshall Fund and former Moscow correspondent, acknowledged the prisoner swap as a positive step but expressed doubts about a broader resolution.
"I'm rather skeptical if we get to the nitty-gritty," he told RFE/RL, adding, "So far, there is not really much that gives us hope that a settlement of the war is within reach."
Ziener questioned Russia's sincerity, noting the incongruity of negotiating for peace while simultaneously launching massive aerial attacks. "If I want to negotiate a peace settlement, I would not hammer Ukraine and pound them the way they do," he observed.
For Ukraine, the immense sacrifices made during the war make concessions difficult. "Given all the sacrifices Ukraine has made so far... it's very difficult for Ukraine to say, OK, well, we'll cede to the Russian demands," Ziener explained.
The talks, which include current and former intelligence officials, mark a continuation of direct negotiations that resumed last May after a long pause. President Donald Trump has expressed frustration that the war continues, having made its resolution a top foreign policy priority. The U.S. delegation includes not only Witkoff, who has met with Russian President Vladimir Putin seven times in the past year, but also Trump's son-in-law, Jared Kushner.
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