The US has relaxed sanctions on Venezuela’s state-owned oil group Petróleos de Venezuela and the Federal Reserve has stuck with plans to cut rates later this year. Plus, Walmart won patents to give algorithms more sway over prices and fears of an immediate escalation in the conflict between Afghanistan and Pakistan have eased.

Mentioned in this podcast:

Federal Reserve chief Jay Powell says Iran oil crisis will worsen US inflation

Pakistan and Afghanistan pause hostilities after Kabul hospital attack

Walmart wins patents to give algorithms more sway over prices

US relaxes sanctions on Venezuela’s PDVSA amid global energy squeeze

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Credit: Federal Reserve

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Today’s FT News Briefing was hosted by Sonja Hutson, and produced by Fiona Symon and Victoria Craig. Our show was mixed by Kelly Garry. Additional help from David da Silva. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music.

Read a transcript of this episode on FT.com

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Federal Reserve holds steady as inflation fears mount

FT News Briefing