Kevin Warsh, Federal Reserve chair, said he picked 15 subject-matter experts for a working group to examine five issues.

Fed chair Kevin Warsh said PCE data is the Fed's reference indicator and the Fed will continue to rely on it.

The U.K. Competition and Markets Authority (CMA) has opened an investigation into Microsoft to determine whether the company used misleading communications that caused users to pay higher Microsoft 365 subscription fees after integrating the Copilot AI feature. The probe centers on whether Microsoft clearly communicated plan changes and Copilot-related price increases before renewals. The CMA says Microsoft provided Copilot free to existing users last year but automatically migrated customers at renewal into higher‑priced plans unless they proactively switched plans or cancelled. The CMA has not found unlawful conduct; if a breach of consumer protection rules is established Microsoft could face fines of up to 10% of global revenue.