Iraqi news agency, citing sources, says 47 deputies and officials were arrested on corruption charges.

Gavekal Research said markets feared in 2025 that Trump might undermine Fed independence by nominating a political ally as chair, forcing rate cuts and leaving inflation persistently above the Fed’s 2% target. Developments over the past seven months make that scenario unlikely: the appointment of Kevin Walsh to lead the Fed and the retention of 11 of 12 regional Fed bank presidents. At Walsh’s first meeting earlier this month the Fed emphasized its commitment to price stability, surprising some market participants who had expected a more dovish stance.

Iraq and Iran foreign ministers met in Baghdad. Iraq said the visit was significant and that Baghdad has facilitated US–Iran communications; ministers discussed bilateral ties and a US–Iran memorandum of understanding. Iraq urged reopening the Strait of Hormuz and lifting maritime blockades, saying wartime actions and a closed strait have harmed Iraq’s economy and disrupted Iraqi oil supplies. Iraq said it does not support escalation or aggression against Iran, warned continued conflict would devastate the region, and called for regional self‑protection.