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Fed's Kashkari (voter) says it is now unclear what the future path of monetary policy will be due to the Iran war; it is premature to conclude that the Fed needs to raise rates immediately after the April PCE inflation data

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Speaking on PCE data, Kashkari says it makes him pay even more attention to inflation risks.

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Geopolitics

The draft agreed to by Iranian and Omani negotiators awaits final approval from Iran’s supreme leader, two regional officials told The Associated Press on Wednesday

Geopolitics

US Treasury official says the latest removal of sanctions on Iran is not indicative of any shift in US policy toward the Government of Iran, Fox's Heinrich reports

Fed

Fed's Kashkari (2026 voter, Hawkish dissenter) says now is the time to start slowly moving up rates, but not calling for dramatic rate hikes