NY Fed's May Survey of Consumer Expectations found inflation forecasts mostly unchanged even as Middle East tensions linger. Households see prices rising at a steady clip, while the perceived chance of quitting a job jumped to 20.8 percent, the highest since early 2023.

Trade Routes

• United States: Strong May payrolls of 172,000 jobs keep pressure on the Fed to rethink earlier easing.
• Middle East: Easing Iran-Israel clashes pulled oil prices back toward $90, easing...