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Oil prices took a sharp turn today as traders weighed President Trump’s latest “maximum pressure” push against Iran.

(Bloomberg) -- Brazil’s central bank said annual inflation will run above the tolerance range for the next six months, as food prices rise significantly and services costs remain elevated despite aggressive interest rate hikes. Most Read from BloombergState Farm Seeks Emergency California Rate Hike After FiresNew York’s First ‘Passive House’ School Is a Model of Downtown DensityNYC’s Newest Transit Leader Builds a Worker-Driven StrategyWhen French Communists Went on a Brutalist Building BoomHist

Both orders were issued in 2011 and address mortgage business issues. Wells has resolved nine consent orders since 2019, and five remain, the bank said.

Tariffs on China are set to begin on Tuesday, and Trump has signaled he will impose duties on other trading partners as well. "The kind of broad-based tariffs that were announced over the weekend, one would expect to have an impact on prices," Boston Fed President Susan Collins said in an interview with CNBC, adding that "with broad-based tariffs, you actually would not only see increases in prices of final goods, but also a number of intermediate goods." Little modern experience on how mega-tariffs impact the economy makes it hard for the Fed to know exactly how big or long-lasting the effects will be, she said, noting that it is possible the Fed could even shrug off a one-time increase in inflation tied to the tariffs.

Like everyone else, Federal Reserve officials are watching and waiting to see what tariffs Donald Trump will impose and how they will affect the economy.

(Bloomberg) -- Supply Lines is a daily newsletter that tracks global trade. Sign up here.Most Read from BloombergNew York’s First ‘Passive House’ School Is a Model of Downtown DensityState Farm Seeks Emergency California Rate Hike After LA FiresWhen French Communists Went on a Brutalist Building BoomTrump Paves the Way to Deputize Local Police on ImmigrationHistoric London Elevator Faces Last Stop in Labour’s Housing PushPresident Donald Trump’s plans to impose tariffs on some of the US’s larges

(Bloomberg) -- Federal Reserve Bank of Chicago President Austan Goolsbee said the central bank should proceed more cautiously in lowering borrowing costs amid mounting uncertainty introduced by the Trump administration.Most Read from BloombergNew York’s First ‘Passive House’ School Is a Model of Downtown DensityState Farm Seeks Emergency California Rate Hike After LA FiresWhen French Communists Went on a Brutalist Building BoomTrump Paves the Way to Deputize Local Police on ImmigrationHistoric L