Federal Reserve Vice Chair JEFFERSON said the Fed must not only communicate but also act to ensure the public understands its intent and commitment to restore inf to the 2% target; that is very important.

According to foreign media citing people familiar with the matter, government-backed fund Japan Industrial Innovation Investment Corporation (JIC) is considering selling chip-materials maker JSR. Two years ago JIC took JSR private in a roughly $6.0 billion transaction. JIC, regulated by METI and established in 2018 to bolster Japanese competitiveness through corporate investment, has drawn acquisition interest from Fujifilm and Mitsubishi Chemical, the sources said. Large-scale investment in artificial intelligence has driven up valuations across the chip supply chain; JIC had initially planned to use JSR to promote consolidation in the materials sector but is now weighing a sale to capitalize on favorable market conditions. Founded in 1957, JSR is a leading photoresist maker; photoresists are used to transfer circuit patterns onto semiconductor wafers. In the fiscal year ended March this year, JSR posted net profit of 60.7 billion yen and revenue of 400.7 billion yen.

Iran's Fars News Agency reported three explosions were heard east of Bandar Abbas port and air-defense systems were activated for several minutes.