Fed's Daly said acting too quickly could suppress the economy prematurely; acting too slowly could harm the public.

US Central Command said an MH-60S Seahawk assigned to the carrier USS George H.W. Bush made a "water emergency landing" in the Arabian Sea on July 1. The command said there were "no indications the emergency was caused by hostile action." Three of four crew members have been rescued and are in stable condition; US forces are searching for one crew member still missing. Cause is unknown and the incident is under investigation.

President Trump said, as he promised, oil prices are falling rapidly and gasoline prices are also declining, but not fast enough.