U.S. Treasury deputy secretary said Washington hopes for a smooth transition to a central clearing mechanism.

OpenAI launches GPT-6 SOL and GPT-6 LUNA, available immediately to all Plus, Pro, Business and Enterprise users in ChatGPT Work and CODEX.

Fed official Barkin warned inf shocks may take time to fade and said there is a risk that inflationary pressures remain elevated and become entrenched. He said last week’s rate hike should help slow inf but did not signal whether further tightening is required; the timing and extent of any additional hikes remain uncertain. Barkin emphasized supply shocks are no longer purely transitory and are exerting persistent price pressure. He outlined two scenarios: one in which recent shocks dissipate and price pressures cool quickly, and another in which pressures persist or new cost shocks emerge, with stronger demand potentially feeding through to prices. He added consumer spending may hit limits, investment growth could slow and employment may become more volatile as these dynamics play out. Barkin reaffirmed the Fed’s commitment to return inf sustainably to a 2% target.