The U.S. government drifted further into red ink in May, with a burgeoning debt and deficit issue getting worse.
President Donald Trump and Vice President JD Vance are now double-teaming the Fed in an effort to get lower interest rates.
The consumer price index was expected to rise 0.2% in May, with a 12-month inflation rate of 2.4%.
"This would mark the slowest rate of global growth since 2008, aside from outright global recessions," the World Bank said of its forecast.
The European Commission and European Central Bank have signed off on Bulgaria joining the euro zone.
The latest poll showed less than 30% of CEOs expected some sort of recession or slowdown over the next six months.
The one-year inflation outlook took a substantial dip, down to 3.2% — a 0.4 percentage point decrease from April.
Nonfarm payrolls were expected to increase 125,000 in May while the unemployment rate stayed at 4.2%.
Inflation in Russia hit 8.3% in the first quarter of the year, with the effects of the war in Ukraine continuing to be felt in the economy.
A new round of "China shock" appears to be under way as Beijing doubles down on manufacturing and exports to offset the drag in domestic consumption.