Fed's Goolsbee (2027 voter) says there has been some progress and some points of "warning" re. inflation, want to see more information - CNBC. Progress on the shelter side of things, still concerned about services inflation.
Fed's Goolsbee highlights mixed signals regarding inflation, noting progress on shelter costs but concerns about services inflation.
Elliott sends letter and presentation to board of Norwegian Cruise Line Holdings (NCLH)
[MARKET UPDATE] XAU, USTs & Crude futures slip following comments via the Iranian Foreign Minister who noted they have reached understanding on main principles with the US; Brent Apr'26 fell from circa. USD 68.41/bbl to USD 67.30/bbl within a few minutes
Fed's Goolsbee (2027 voter) says there has been some progress and some points of "warning" re. inflation, want to see more information - CNBC. Progress on the shelter side of things, still concerned about services inflation.
Daily US Equity Opening News - DHR to acquire MASI; Elliott builds stake in NCLH; INFY partners with Anthropic
Barclays (BARC LN) to sell USD-denominated four part notes
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Inflation/Rate Path/Neutral
- The recent CPI was, partially, pulled down due to base effects.
- Hopes that the impact of tariffs is a one time thing on inflation; could be a "yes", if it doesn't move through to services.
- Still several more rate cuts that could happen in 2026. But, need to see progress on data.
- Says, if inflation runs persistently high, then they are being looser than they otherwise would be. Sees 3% as a "loose" neutral estimate.
Warsh Nomination
- Big fan of him, known him for a long time. Thing he is a reputable person.
This signals a cautious approach from the Fed, indicating that while they acknowledge some improvement, they're wary of persistent inflation risks that could impact future rate decisions. Traders should watch closely for further data as it may influence the rate path in the coming year.
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