Wednesday Afternoon Links

[CNBC] S&P 500 gives up gain as Fed flags stagflation risk, traders await Powell comments: Live updates

[CNBC] Fed meeting live updates: Fed flags rising inflation risk, traders await insight from Powell presser

[AP] Federal Reserve leaves key rate unchanged, flags a risk of higher prices and higher unemployment

[AP] The more Trump talks about making trade deals, the more confusing the tariff picture gets

[CNBC] Used vehicle pricing barometer jumps to highest level since 2023 amid auto tariffs

[Politico] Vance says Russia ‘asking for too much’ to end war with Ukraine

[Bloomberg] Trump Says He Won’t Lower China Tariffs to Jump-Start Talks

[Bloomberg] Bessent Working on Clear Rules for US Investment in China

[Bloomberg] Wall Street Banks Stuck With $6 Billion in Debt Ready to Lure Back Investors

[Bloomberg] German Banks Face Scrutiny on Currency Crunches After US Turmoil

[NYT] Consumers Are Pulling Back, Spooked by Tariff-Related Price Increases

[WSJ] Are India and Pakistan at Risk of War? Here’s What We Know

[WSJ] Russia, Ukraine Intensify Attacks Ahead of Moscow’s World War II Commemoration