PRIMER: Today's Fedspeak - Williams, Goolsbee, Jefferson

13:30BST/08:30EDT: Fed’s Williams (voter) will speak on Bloomberg TV. Speaking last week, Williams said risks to inflation and employment from higher energy prices are balanced, and that he supports keeping interest rates unchanged. He said monpol was well positioned, given last year’s actions and current settings, to keep those risks in balance.
17:35BST/12:35EDT: Fed’s Goolsbee (2027 voter, dovish) will speak on the outlook for policy and the economy. Speaking this week, Goolsbee said the inflation outlook is at least “orange” and moving toward red as gasoline prices rise; he noted that tariffs have not faded and a new stagflationary shock has emerged. He also rated the labour market “yellow” and said he was somewhat anxious about asset prices, citing signs of frothiness.
22:50BST/17:50EDT: Fed’s Vice Chair Jefferson (voter, dovish; text and Q&A are expected) will speak on the economic outlook and the labour market. Speaking at the end of March, Jefferson said the Iran war is likely to lift inflation in the near term through higher energy prices, but signalled that rates should stay steady. He said policy is appropriately positioned for now, expects inflation to rise in the short term from Middle East-related energy costs, and sees labour market risks skewed to the downside.