Fed chair Kevin Warsh said the Fed has the ability and determination to achieve its 2% inf target.

According to the Wall Street Journal, Apple CEO Cook said the company plans to raise product prices to offset a sharp rise in memory and storage chip costs, calling price increases "unavoidable"; he declined to specify timing, magnitude or which products would be affected. Cook flagged DRAM pressure in particular, saying more capacity is being allocated to AI servers and high‑bandwidth memory, tightening supply for consumer devices as vendors push prices higher. He said Apple is prepared to use its cash balance to secure additional memory supply and support more capacity but ruled out building its own memory or storage fabs.

Brazil's central bank cut its benchmark interest rate by 25 bps to 14.25% in a unanimous decision.