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The U.K. is now running a trade deficit with its largest trading partner.

Federal Reserve officials who voted this week against the post-meeting statement said they didn't think it was appropriate to signal that the next interest rate move would be lower.

When the Fed gathers again, it will mark the first time a sitting and former chair conduct business together in nearly 80 years.

Core inflation rate hit 3.2% in March, as expected; GDP grew 2% in first quarter

The European Central Bank and Bank of England are expected to hold their nerve and stand pat on rates this month.

The decision could have important ramifications for policymaking at an especially delicate time.

Tehran's hardline rhetoric belies a brutal reality facing the regime and Iranian citizens: its economy, vulnerable even before the war, is now in tatters.

But Bank of America economist Aditya Bhave warned Wednesday that such a recalculation might not pan out as the former Fed governor hopes.

Prospects for further negotiations remain uncertain, with Tehran and Washington offering conflicting signals on the ceasefire's status.

American negotiators may be outmatched at the negotiating table by Iran's experienced diplomatic delegation, says analyst, ahead of potential high-stakes meeting.