FOMC statement: 17 of 19 Fed officials submitted interest-rate projections for 2028.

European Council President Antonio Costa has opened contacts with the Kremlin to press President Putin to discuss ending the Russia-Ukraine conflict, people familiar with the matter said. Costa's chief adviser held two calls with a senior Russian official close to Putin to lay groundwork for future substantive talks. Costa said last month that at an appropriate time Europe needs dialogue with Russia to address shared security issues. Germany, France and the UK have separately discussed coordinating with Ukrainian President Zelenskiy to encourage Putin to enter peace negotiations. European officials said Russia's stalled battlefield advances, intensified Ukrainian strikes into Russian territory and rising war-related economic costs may create an opening. A senior EU official said as the conflict enters a new phase, European capitals are aligning positions and preparing for increased communication with the Kremlin.

U.S. President Trump said the U.S. will provide Iran no funding or investment.