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Kansas City Fed President Jeff Schmid stated that the Federal Reserve still has work to do regarding short-term interest rates, despite elevated longer-term Treasury yields. Schmid noted that higher long-term rates are influencing investor behavior through the cost of capital.
Descartes Systems said total revenue rose 15% year over year to $193.6 million and adjusted EBITDA increased 20% to a record $89.8 million. The company also highlighted AI investment plans and the IDELIC acquisition.