Federal Reserve Chairman Jerome Powell delivered his address to the Federal Reserve’s annual policy conference in Jackson Hole, Wyoming. It was short, direct, cautionary, and hawkish. The key points were:
The Fed has an “overarching focus right now to bring inflation back down to our 2 percent goal” via “… forceful and rapid steps to moderate demand so that it comes into better alignment with supply.”
Lower month-month inflation in July “… falls far short of what the Committee will need to see before we are confident that inflation is moving down.”
The Fed, in looking at “high and volatile inflation of the 1970s and 1980s, and from the low and stable inflation of...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
