Nellie Liang, the U.S. Treasury Department's undersecretary for domestic finance, says that the need for a digital dollar doesn't currently exist and that the U.S. might adopt a CBDC several years from now, if a lot of other countries do so first.

Debt investors losing millions on the move to SOFR are starting to fight back, requiring credit spread adjustments to make up the difference between the benchmarks.

France has accused Washington of pursuing a "Chinese-style" industrial policy that discriminates against non-U.S. companies and has said it may take the U.S. to the WTO over its new law.

Chair Powell says today's expected half-point interest rate increase is not close to the end of the road in the continuing battle against inflation.