PRIMER - Today’s Fedspeak includes: Williams, Musalem, Bowman, Schmid, Logan

14:05BST/09:05EDT: Fed’s Williams (voter) moderates a panel discussion. Speaking last week, Williams said there was no urgency for the Fed’s next rate hike, with one further increase possibly appropriate late this year to return inflation to its 2% target. He expects inflation to end the year around 3.5% before returning to target in 2028. Traders pared bets on an October hike following his remarks. 15:40BST/10:40EDT: Fed’s Musalem (2028 voter) delivers opening remarks. Speaking last week, Musalem described the economy as very strong, with the AI capex boom fuelling demand pressure, which is driving about half of current inflation, adding that policy remains somewhat accommodative after the last hike and long-run inflation expectations are consistent with 2%. He also said that central bankers need not make promises but should explain how and why policy decisions are made. 15:45BST/10:45EDT: Fed’s Bowman (voter) speaks on financial regulation and supervision. Speaking last week on policy, Bowman said there is no urgent need for further rate moves this year. On supervision, speaking in mid-September, she said the Fed will vote in the coming weeks on a final overhaul of its bank stress test, which will disclose models, equations, variables and more scenario details. She added the Fed expects to finish Basel and globally systemic bank capital rule changes by year-end. 18:15BST/13:15EDT: Fed’s Schmid (2028 voter) participates in a fireside chat. Speaking last week, Schmid said there is work to do on inflation, with energy prices among the biggest challenges for monetary policy. He added that the relentless rise in long-term interest rates is starting to affect more parts of the economy, including multifamily housing, commercial lending and home prices. 00:00BST/19:00EDT: Fed’s Logan (2026 voter) moderates an event at the Dallas Fed. Speaking last week, Logan said the policy rate needs to rise by an additional 50bps+, warning inflation will not reach the 2% goal without higher rates. She added that policy is not sufficiently restrictive, growth is gaining momentum and the labour market remains well balanced, while higher term premiums may partly reflect higher yields and lessen the need for tightening.