Flash Consumer Confidence Indicator for the EU and Euro Area

St. Louis Fed President Alberto Musalem shared his views on the U.S. economy and monetary policy at a Brookings Institution event in Washington, D.C. He gave a speech, “Remarks on the Economic Outlook, the Balance of Risks and Monetary Policy,” and participated in a moderated Q&A. Key Takeaways from President Musalem’s Remarks: • Given the economic outlook and balance of risks, I supported the 25-basis-point reduction in the FOMC’s policy rate last week as a precautionary move intended to support the labor market at full employment and against further weakening. • Recent data indicate the downside risks to employment have increased relative to the risk of inflation remaining persistently above target. Fed's Musalem: Loose financial conditions, other factors mean the Fed should move cautiously on further cuts. Fed's Musalem: Economy near full employment, recent cut to help maintain it Fed's Musalem: Monetary policy must continue to lean against inflation that remains above target. Fed's Musalem: Overemphasis on labor market could lead to policy that is too loose and do more harm than good.

*BESSENT: 10 FED CHAIR CANDIDATES INTERVIEWED BY NEXT WEEK: CNBC