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German Defense Minister Boris Pistorius has called for an increase in the country's defense budget, citing Russia as a key reason, German outlet Spiegel reported on Dec. 21. "From 2028, we need a defense budget of at least 80 billion, more likely 90 billion euros a year to meet the demands we have due to the worsening security situation," Pistorius said, "If Putin attacks, we need to be able to wage war."

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'If Putin attacks, we need to be able to wage war,' German Defense Minister says

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Two U.S. Navy pilots were shot down Sunday over the Red Sea in what appeared to be "friendly fire", the U.S. military said. The pilots were found alive after they ejected from their aircraft, with one suffering minor injuries. The incident demonstrates the pervasive dangers in the Red Sea corridor amid ongoing attacks on shipping by the Iranian-backed Houthis, even as U.S. and European military coalitions patrol the area.

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US says 2 Navy pilots shot down over Red Sea in apparent 'friendly fire' incident

At a press conference in Brussels on Dec. 19, President Volodymyr Zelensky blasted Russian President Vladimir Putin's recent threats of using the new Oreshnik intermediate-range ballistic missile (IRBM) against Kyiv to test Western air defense systems in what he called a "high-tech duel" with the West.

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Putin Proposes Missile 'Duel' Targeting Kyiv, Drawing Sharp Rebuke from Zelenskyy

The personal consumption expenditures price index was expected to show a 2.5% annual inflation rate in November after rising 0.2% monthly, according to the Dow Jones consensus estimate.



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Key Fed inflation measure shows 2.4% rate in November, lower than expected

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