Leaders of some of the world’s biggest economic powers will arrive in the Canadian Rockies on Sunday for a Group of Seven summit shadowed by a widening war in the Middle East, and U.S.

President Donald Trump has repeatedly demanded the Federal Reserve slash interest rates. But Fed officials have stood pat, waiting to see how his administration’s sweeping policy changes affect the economy first.

AMANEY A. JAMAL is Co-Founder and Co-Principal Investigator at Arab Barometer, Dean of the Princeton School of Public and International Affairs, and Edwards S. Sanford Professor of Politics and International Affairs at Princeton University.

Pope Leo XIV called for “responsibility and reason” in the conflict between Israel and Iran. “No one should ever threaten the existence of another,” he wrote on X. “It is the duty of all countries to support the cause of peace,

Global air traffic has been disrupted following Israel’s strikes on Iran Friday, with several major airlines suspending flights to and from locations in the Middle East and rerouting their planes to avoid much of the region’s airspace.

Major equity indices, which had been hovering near all-time highs, pulled back as geopolitical risks surged back to the forefront.

Jon Faust, who advised three Fed chairs, doesn’t see an interest-rate cut until December — an even then, the odds of a move are just 50/50.

Israel’s attack on Iran has catapulted their long-running conflict into what could become a wider, more dangerous regional war and potentially drive prices higher for both businesses and households.