Secured overnight financing rate 3.63% May 27th vs 3.63% May 26th|
Pakistan Government: Foreign Minister Dar to visit Washington on May 29th and meet US Secretary of State Rubio.|
BYD unveils self-developed 4-NM smart driving chip.|
❗⚠️ US PCE Price Index YoY Actual 3.8% (Forecast 3.8%, Previous 3.5%)
US PCE Price Index MoM Actual 0.4% (Forecast 0.5%, Previous 0.7%)
US Core PCE Price Index YoY Actual 3.3% (Forecast 3.3%, Previous 3.2%)
US Core PCE Price Index MoM Actual 0.2% (Forecast 0.3%, Previous 0.3%)
US Consumer Spending MoM Actual 0.5% (Forecast 0.5%, Previous 0.9%)|
❗ US GDP QoQ 2nd Estimate Actual 1.6% (Forecast 2%, Previous 2.0%)
US GDP Price Index Actual 3.5% (Forecast 3.6%, Previous 3.6%)
US GDP Deflator SA Prelim Actual 3.5% (Forecast -, Previous 3.6%)|
❗ US Initial Jobless Claims Actual 215k (Forecast 210.5k, Previous 209k)
US Continued Jobless Claims Actual 1.786M (Forecast 1.784M, Previous 1.782M)|
US Durable Goods Actual 7.9% (Forecast 4%, Previous 0.8%)
US Core Durable Goods Actual 1.1% (Forecast 0.5%, Previous 0.9%)|
Fed's Williams does not comment on near-term monetary policy outlook.|
US Treasury Secretary Bessent: We're going to shut down Iran's airline access to landing spots and fuel - Post on X.|
US Treasury Secretary Bessent: Warned corporations and states against paying Iran tolls.|
Fed’s Williams: Productivity shifts are hard to spot in real time
Higher productivity growth raises real rates over the long run
Fundamental shifts in productivity are difficult to identify in real time
Policy response to productivity growth depends on the duration of the shift
Impact also depends on how quickly the public recognizes the productivity change
New York Fed President John Williams made the comments in prepared remarks|