Senior Iranian Official Involved in Attempt at Peace Talks Severely Wounded by US-Israeli Strike

Watch Live: Warsh Blasts Fed's 'Fatal Policy Error' On Inflation, Pledges Strict Independence As Tillis Confirms Hold On Fed Chair Nomination Latest:  Warsh labeled the Fed’s 2021-2022 response a “fatal policy error” on inflation. He demands a new policy framework, tools, and major communications reform. Warsh rejects forward guidance and refuses to preview future rate moves. Price stability exists when no one talks about inflation, Warsh testified. Warsh disputes that tariffs caused the recent inflation overshoot. Inflation data used by the Fed is “quite imperfect,” per Warsh. He focuses most on the underlying inflation rate. Trump never asked...

The short answer is “no.” Trump was confabulating when he said that he was already in negotiations with “important” Iranians. There is a back history to the US’ “negotiations narrative.” In earlier rounds of “negotiations” centred on the Ukraine conflict, Trump regularly would suggest that political negotiations with Russia were ongoing, when in practice, Witkoff […]

Rate-Hike Odds Slump As US Consumer Prices Plunge Most Since COVID In June With oil prices having tumbled (before this latest resurgence) but semiconductor prices soaring still, expectations were for a small 0.1% MoM decline in CPI but in fact it printed dramatically cooler, dropping 0.4% MoM - the biggest monthly decline since COVID (April 2020), dragging the YoY CPI change down to +3.5% YoY... Source: Bloomberg Both Goods and Services costs saw YoY growth decline... Energy dominated the decline while Core Services rose very modestly... CPI breakdown: Headline CPI down 0.4% MoM in...