Fed's Barr (voter) says inflation has been brought down from 2022 highs to about 3% today, but emphasises the Fed has more work to do to get it down to 2% via continued rate adjustments
Fed's Barr indicates that while inflation has decreased from 2022 highs to around 3%, further rate adjustments are necessary to reach the 2% target.
Canadian S&P Global Manufacturing PMI (Mar) 50.0 (Prev. 51.0)
Ryanair (RYA ID) CEO says he is unsure if fuel rationing would achieve anything, but it would portend that this will be a long term issue
Fed's Barr (voter) says inflation has been brought down from 2022 highs to about 3% today, but emphasises the Fed has more work to do to get it down to 2% via continued rate adjustments
Fed's Musalem (2028 voter) says Fed's dual mandate is pro growth, via AEI event; if nominal interest rate comes lower, the 10yr yield will decline too
IRGC says it struck an oil tanker in the Gulf of Qatari waters; the tanker is leased to QatarEnergy
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- AI impact on labour market so far relatively small.
- Higher US productivity probably not yet from AI.
This suggests a continued hawkish stance from the Fed, which could impact market expectations for future rate hikes and drive volatility in FX and fixed income as traders adjust their positions based on the Fed's commitment to combat inflation.
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