Federal Reserve official Kevin Warsh has signaled that the U.S. central bank may need to address persistent inflation by raising interest rates. He emphasized that the Fed has work to do to maintain economic stability if inflationary pressures continue.
Visa and Mastercard have resumed processing transactions in Syria after the United States removed the country from its list of state sponsors of terrorism. While this move facilitates international money transfers, Dutch banks have not yet resumed services in the region.
Oil transport through the Strait of Hormuz has recovered to 70 percent of its capacity. Kuwait and Qatar have joined the United Arab Emirates and Saudi Arabia in transferring oil between ships on the open sea to bypass conflict zones.
The Netherlands and the broader European region risk losing significant industry and thousands of jobs to China and the United States. In response, the Scientific Council for Government Policy advises the Dutch cabinet to consider unconventional measures, such as imposing import tariffs and lowering the euro exchange rate.