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: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
