US Economic Outlook and Federal Reserve Stance: The US Federal Reserve kept its benchmark interest rate unchanged but acknowledged "remarkably high" uncertainty and a "sharp downturn in sentiment." Fed Chairman Jerome Powell warned that tariffs were "likely to slow growth and hinder the bank's efforts to keep prices stable." Inflation forecasts have been revised upwards, and growth expectations downwards. However, the Fed still anticipates cutting rates by the end of the year and will slow down asset sales to support the economy.White House Dismissal of Tariff Concerns: The White House dismissed concerns about the negative effects of tariffs, with one official stating that "Chairman Powell is clear that if there were a tariff effect, it's a transitory one."Impact of Rising Prices: Rising prices are evident, with reports of the USA asking Denmark for eggs due to increased costs.EU Defense Independence: The European Union is taking significant steps to build its own "military-industrial complex" with the "Readiness 2030 program," aiming to reduce reliance on the United States for defense procurement. Commission President Ursula von der Leyen stated, “We must buy more European. Because that means strengthening the European defense technological and industrial base.” This initiative excludes US and, for now, UK arms-makers from its major defense spending plans, potentially reaching €800 billion. The EU is also forging defense and security partnerships with countries like South Korea, Japan, and India.

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