Fed's Jefferson (voter) says current policy stance should support the job market and allow inflation to resume decline towards 2% as tariff effects and energy price pass through
Newsquawk Staff ·
Says
- In a scenario where inflation does not start cooling it could be appropriate to reconsider stance and ensure we deliver price stability.
- Current policy is well-positioned to respond based on incoming data, the evolving outlook and balance of risks.
- Firmly committed to returning inflation to the 2% target consistent with the dual mandates.
- Expect Middle East conflict to have muted effects on demand as the US is a net oil exporter and the economy is less oil-intensive.
- Mnitoring two significant developments: Middle East conflict and proliferation of AI.
- Current scenario exemplifies policy dilemma where dual mandate goals are in tension.
- US waives Russian diesel tax record requirements for buyers
- CRUDE WRAP: WTI (Z6) SETTLES USD 0.67 LOWER AT 97.15/BBL; BRENT (X6) SETTLES USD 0.03 HIGHER AT USD 108.82/BBL
- Ukrainian President Zelensky says supports US proposal for trilateral talks at level of negotiators as soon as possible; Ukraine hopes for meeting not later than early November; Meeting could discuss peace and possible leaders’ summit
- [MARKET UPDATE] Risk-on trade seen at 12:39EDT/17:39BST with desks citing OFAC authorising offloading of some cargo involving some blocked vessels; Downside in oil, equity futures hit new session highs, gold and bonds rallied, while USD saw pressure
- Israeli helicopters flying in the sky of southern Syria, and continued transfer of military forces, equipment and deployment of early warning systems, are being carried out within the framework of preparation for a possible war with Iran, reports Mizan
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