Who Will Replace Jerome Powell as Fed Chair?

At the Monetary Policy Meeting held today, the Policy Board of the Bank of Japan decided, by a unanimous vote, to set the following guideline for money market operations for the intermeeting period: The Bank will encourage the uncollateralized overnight call rate to remain at around 0.5 percent Regarding the reduction of its purchase amount of Japanese government bonds (JGBs), the Bank decided, by an 8-1 majority vote, on a plan to reduce the amount of its monthly outright purchases of JGBs so that it will be about 2 trillion yen in January-March 2027. The amount will be cut down, in principle, by about 400 billion yen each calendar quarter until January- March 2026, and by about 200 billion yen each calendar quarter from April-June 2026 (see Attachment).1 |NoIc| BOJ: TO REDUCE AMOUNT OF MONTHLY JGB PURCHASES SO IT WILL BE ABOUT 2 TRILLION YEN IN JANUARY-MARCH 2027 TO LEAVE UNCHANGED EXISTING BOND TAPER PLAN RUNNING THROUGH MARCH 2026 LONG-TERM INTEREST RATES ARE TO BE FORMED IN MARKETS APPROPRIATE FOR BOJ TO REDUCE BOND BUYING… BOJ: Frontloading observed in production, exports BOJ: NECESSARY TO PAY DUE ATTENTION TO IMPACT OF TRADE POLICIES ON FINANCIAL, FX MARKETS INFLATION EXPECTATIONS HAVE RISEN MODERATELY EFFECTS OF THE PAST RISE IN IMPORT PRICES AND OF THE RECENT RISE IN FOOD PRICES ARE EXPECTED TO WANE BOJ: Price trend likely in line with goal in outlook for the 2nd half

BoJ's Governor Ueda: We considered market participants’ views for bond plan. BoJ Gov Ueda: Will Conduct Mid-Term Assessment On Bond Plan Next June - Appropriate To Reduce Bond Buying In Predictable Manner - Japan's Economy Is Recovering Moderately, Although Some Weak Moves Are Seen - Easy Monetary Conditions Will Support Economy BoJ's Governor Ueda: We showed JGB buying plans through March 2027 to allow flexibility, predictability. BoJ's Governor Ueda: Japan's economy is recovering moderately, although some weak moves are seen. BoJ Gov Ueda: Will Respond Nimbly In Case Of Rapid Rise In Long-Term Interest Rates Such As By Increasing Bond Buying, Conducting Fixed-Rate Bond Purchase Operations, Using Fund-Supply Operations Against Pooled Collateral

TRUMP SAYS NOT TOO MUCH IN MOOD TO NEGOTIATE WITH IRAN TRUMP SAYS MIGHT DO SEPARATE CANADA DEAL FOR GOLDEN DOME TRUMP SAYS EU NOT YET OFFERING A FAIR DEAL TRUMP WANTS "A REAL END" TO THE NUCLEAR PROBLEM WITH IRAN - CBS REPORTER ON X TRUMP PREDICTS ISRAELIS AREN'T SLOWING UP THEIR BARRAGE ON IRAN - CBS REPORTER ON X TRUMP SAID HE MAY SEND WITKOFF OR VANCE TO MEET WITH IRAN BUT IT DEPENDS ON WHAT HAPPENS WHEN HE GETS BACK - CBS…