Powell’s Fed is backed into a bit of a corner. Its dual mandate is low unemployment and inflation, two often competing goals. Raising interest rates can slow inflation but increase job losses, while cutting interest rates can increase hiring but risk faster inflation.

China warns countries looking for a U.S. trade deal, gold glitters as dollar weakens, more news to start your day.

The outlooks for the U.S. and global economies have significantly worsened in the wake of President Donald Trump's tariffs and the uncertainty they have created, the International Monetary Fund said on Tuesday.