The Fed is ‘meaningfully deviating’ from one of the most basic rules for fighting inflation, BofA warns

Everything you need to know before you reach the office this morning.

Good morning. On Fortune’s radar today:

• Fed is breaking Econ 101’s golden rule, BofA warns.
• Markets: “Blown past expectations.”
• U.K.’s Starmer clings on as his MPs revolt.
• Iran vows to make U.S. taxpayers feel the pain.
• Tech bloodbath: 118,000 jobs gone in 2026.
• Forget your office ping-pong — meet the Wimbledon of work.

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This story was originally featured on Fortune.com