German Chancellor Merz said the G7 joint statement sends a clear signal to Russia and expresses strong support for Ukraine.

Bank of Korea says AI-driven surge in bonuses could amplify broader inflation.

The Federal Reserve's rate decision due Wednesday will be the first under new chair Kevin Warsh. Markets will parse what Warsh says and omits for clues to changes in Fed communication, focusing on the wording of the post-meeting statement, any stylistic shifts and whether the post-decision press conference will be retained. Warsh is expected to push reforms he has outlined, including shrinking the Fed's balance sheet to refocus the central bank on monetary policy. James Grant, editor of Grant's Interest Rate Observer, said Warsh should confront the Fed's weakest financial positions and consider holding gold to improve optics — the Fed currently holds no gold — and warned that if the Treasury stopped covering Fed losses the central bank would have been insolvent, with losses on fixed-income assets and bonds exceeding reported equity.