 He said new numbers showing unemployment rising slightly may prompt rate cuts sooner. Powell said that the Fed will need to examine more economic data before making a rate cut decision. President Biden will host a high-stakes NATO summit in Washington this week to mark the 75th anniversary of the alliance. Benji Heyer has more. The expanded 32-nation defense pact is vowing to pour more weapons into Ukraine for another year, yet the big prize membership is off the table for now.