Fed chair Kevin Warsh declined to update on data from the past two weeks and re-committed to achieving price stability.

US agriculture secretary Rollins said Wednesday the USDA will invest $500m in new and existing fertilizer plants to accelerate U.S. fertilizer output. He cited geopolitical and trade disruptions — including tariffs on major suppliers, Trump-era tariff policies and the wars in Ukraine and Iran — as drivers of elevated fertilizer prices that, amid weak crop prices, have raised U.S. food-security concerns. Rollins said the department will prioritize domestic plant construction and that opening the market should lower farmers’ fertilizer costs.

Tanker-tracking firms say Iran has exported about 50 mln barrels of oil since U.S. sanctions were eased.