The National Financial Regulatory Administration and the Hubei provincial government said they will place Wuhan Zhongbang Bank Co., Ltd. under takeover citing serious credit risk. The measure, aimed at protecting depositors and other customers, is being taken under the Banking Supervision Law and the Commercial Bank Law and is effective from July 3, 2026 through July 2, 2027.

Sung Won Sohn, chief economist at SS Economics, said the U.S. June jobs report reshapes the labor-market picture: nonfarm payroll growth slowed and was revised down, labor force participation fell, leisure and hospitality weakened, and job gains remain heavily concentrated in health care and social assistance. Sohn said the data indicate the labor market is no longer booming, describing a "low hiring, low firing" environment with less margin for error. He added the report reduces near-term odds of further Fed tightening, has weakened the dollar, and investors will monitor whether the cooling persists.

White House National Economic Council Director HASSETT said it is highly unusual that Powell has not yet left the Federal Reserve and voiced concern about Powell’s motives for remaining.