Fed's Goolsbee: I am uncomfortable with overly frontloading rate cuts

FED'S DALY: HARD TO SAY IF FURTHER RATE CUTS WILL COME NOW, LATER THIS YEAR, OR WHEN LABOR MARKET NOT WEAK Fed's Daly: The labor market is not as speedy as it was - it's sustainable, and I don't want to see further softening. FED'S DALY: THE RATE CUT WAS LIKE TAKING OUT INSURANCE ON THE LABOR MARKET. ... Fed's Daly: This is not stagflation.

Freeport declares force majeure at Grasberg and cuts its 2025 consolidated sales forecast by 4% for #copper and 6% for #gold vs July 2025 estimates, it says. Comes after unprecedented mud rush fatally injures 2 workers, leaves 5 missing. Search ongoing FREEPORT-MCMORAN INC - UPDATES ON MUD RUSH INCIDENT AT GRASBERG MINE FREEPORT-MCMORAN INC - PT FREEPORT INDONESIA CONFIRMS TWO FATALITIES FROM INCIDENT FREEPORT-MCMORAN INC - SEARCH ONGOING FOR FIVE MISSING PTFI TEAM MEMBERS FREEPORT-MCMORAN INC - MINING OPERATIONS AT GRASBERG…

BESSENT: FED HAS BEEN TOO HIGH FOR TOO LONG BESSENT: WE'RE GOING INTO AN EASING CYCLE BESSENT: SURPRISED FED CHAIR POWELL HASN'T SIGNALED DESTINATION FOR INTEREST RATES BESSENT: REVISIONS ON JOBS SHOW SOMETHING WAS WRONG *BESSENT: POWELL SHOULD HAVE SIGNALLED 100-150 BPS CUT