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Good morning from the Financial Times. Today is Thursday, June 15th, and this is your FT News Briefing.

The Federal Reserve hit the pause button yesterday, and Boris Johnson was found to have committed

multiple contempts of parliament. Plus, Vladimir Putin doesn't want to conscript more people to

fight in Ukraine, so Russian companies are recruiting workers. That were bonuses offered.

They were allowed to keep your job and retain a salary, but actually earn more money and at the

same time get a holiday when you come back. I'm Sonya Hudson in for Mark Filipino, and here's

the news you need to start your day.

The Federal Reserve is taking a time out. After 10 consecutive interest rate rises,

the Federal Reserve yesterday decided to hold its benchmark interest rate steady, so no rise.

But, Fed Chair Jay Powell said there could be more rate rises later this year.

That would likely come in the form of two quarter point increases.

Here's our US economics editor, Colby Smith.

Powell was quite clear that things are moving in the right direction, but progress has been

quite disappointing, at least on the inflation front. That's why he was so explicit that the Fed

isn't done here. I think if they were leaning very heavily in the direction of they've done

enough, and this pause is actually the end of the hiking cycle, there would have been a much

more positive assessment about where things are in terms of inflation and growth.

But instead, in the economic projections that were also released yesterday, we saw most officials

revising higher their expectations for core inflation for this year,

revising lower their unemployment rate, and revising higher as well their growth forecast.

...