We're Equinoir, an energy company searching for better.

Currently, we supply 27% of the UK's gas, 15% of its oil, and we're playing our part in the UK's energy transition.

In 2023, we invested 20% of our global gross spend in renewables and lower carbon solutions.

Today, our wind farms power 750,000 homes, and we expect this to grow to over 7 million UK households.

We're an energy company searching for better, equinoord.co.uk.

Good morning from the Financial Times.

Today is Thursday, June 19th, and this is your FTN's briefing.

The Fed is down on the US economy, and the UK inflation rate is a bit of a bummer too. Plus big tech companies have

put all their chips on artificial intelligence and they want Congress to clear the regulatory runway

for them. I'm Mark Filipino and here's the news you need to start your day.

The Federal Reserve kept interest rates on hold yesterday, and that was expected going into the meeting.

But the bigger thing was the Central Bank cut its outlook for the US economy.

Here to tell me more about what the Central Bank is thinking is the FT's US economics

editor, Claire Jones.

Hey, Claire.

Hi, Mark.

So, Claire, we mentioned the economy.

Tell me a little bit more about where the Fed cut its outlook.

So what we saw yesterday was the Fed's economic projections really

catch up with economic reality. The Fed releases quarterly forecasts. The last round we saw were in March.

That was before the chaos of liberation day in early April. What we saw yesterday was a downgrade in the growth expectation for

this year. They now think growth is going to be 1.4%. That's substantially weaker than

...