Fed’s Williams (voter) says now is not a good time for Fed to give firm forward guidance; Fed policy is currently modestly restrictive
Williams' comments suggest a dovish stance, emphasizing the lack of immediate need for firm guidance and maintaining a modestly restrictive policy while anticipating inflation to remain above 3%.
Iran has shipped around 9mln barrels of crude from floating storages in the Gulf of Oman since the start of the US blockade, Iran International reports citing tanker trackers
House China Panel has issued a report on China and AI capabilities
Fed’s Williams (voter) says now is not a good time for Fed to give firm forward guidance; Fed policy is currently modestly restrictive
US CENTCOM reports that 14 ships have changed course to follow the US blockade
US EQUITY OPEN: Stocks pull back at the open after recent strength
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Inflation:
- Well-anchored inflation expectations important.
- Inflation will be “well above” 3% over next few months.
Monetary Policy:
- We are in the right place for monetary policy.
Middle East:
- War shock is about prices but also unavailable commodities.
- The longer the conflict lasts, the bigger the economic impact will be.
- Some of market strength due to reduced US exposure to oil shock.
- Market pricing balancing strong US outlook versus war uncertainty.
Other:
- Cyber risk is the thing that keeps me up at night
This points to a balancing act in monetary policy amid external shocks, like geopolitical tensions, which adds complexity to the Fed's decision-making process and may influence market expectations for future rate movements.
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