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 .