Fed's Goolsbee said CPI was encouraging, but more data are needed before a firm judgment can be made.

Escalating attacks have prompted Saudi Arabia to adopt a more proactive security posture in Yemen and the wider region, driven by the prospect that Houthi forces could eventually block the Bab el-Mandeb strait and threaten the Red Sea shipping lane that is an alternative to the Strait of Hormuz. Riyadh is especially sensitive after recent tensions around Hormuz, since a closure of Bab el-Mandeb would put Red Sea routes — previously a viable complement to Saudi east–west pipelines bypassing Hormuz — at direct risk. Last month Saudi Arabia announced an international coalition to protect Red Sea shipping with 13 participating countries, while deepening defence agreements with Pakistan and Turkey and increasing coordination with the United States. Saudi defence officials recently met the US vice president, and media reports say the crown prince has US backing for potential military action against the Houthis. On the ground, Riyadh has shifted tactics — intervening late last year against the UAE-backed Southern Transitional Council to help consolidate anti-Houthi forces around the Yemeni government — and analysts say Saudi policy now appears aimed at driving the Houthis off the coastline rather than attempting to retake Sanaa.

China's 15th Five‑Year Plan calls for strengthening social‑insurance sustainability. The State Taxation Administration said compliant social‑insurance payments are necessary to bolster system sustainability and protect workers' rights. Responding to recent media reports about consolidating contribution bases, tax authorities will implement compliance and base consolidation in classified, step‑by‑step measures and will not carry out a blanket one‑size‑fits‑all approach. "We will advance compliance and consolidate contribution bases in phases and by category; we will not simply adopt a one‑size‑fits‑all nor force an immediate one‑step fix," Zhang Hui, director of the State Taxation Administration's Beijing 12366 tax payment service center, said.