Silver heads for biggest drop in 46 years, with 'every man and his dog rushing for the exit'

Good morning. It is my pleasure to join you here in Rogers for the 32nd annual Arkansas Business Forecast Luncheon. For their kind invitation, I would like to thank University of Arkansas Chancellor Charles Robinson, Walton College of Business Dean Brent Williams, and the host of this event and Director of the Center for Business and Economic Research, Mervin Jebaraj. This is my fourth visit to Arkansas in the past year and a half, and I always learn a great deal about this dynamic state and economic conditions when I’m here. I look forward to taking questions from my St. Louis Fed colleague Matuschka Lindo Briggs in a few minutes. But first, I will offer some remarks on the economic outlook and monetary policy. Note these are my personal views and are not necessarily shared by my FOMC colleagues.1 I will begin with a summary of my remarks and then elaborate. First, the U.S. economy has been resilient, with considerable momentum coming into 2026. I expect the economy will continue to grow at or above trend this year. Of course, nothing is certain, but I see tailwinds supporting economic Fed's Musalem: Further interest rate cuts are not advisable. Policy is now neutral and the economy does not need stimulus. MUSALEM: NOT ALL OF CURRENT INFLATION IS FROM TARIFFS ... MUSALEM: RISK OF A SIGNIFICANT JOB MARKET DOWNTURN HAS FALLEN ...

MUSALEM: INFLATION EXPECTATIONS ARE CONSISTENT WITH 2% TARGET ST LOUIS FED'S MUSALEM Q&A/UARK: A.I. IN EARLY STAGES OF CONTRIBUTING TO MACRO PRODUCTIVITY INCREASES; EASIER TO FILL VACANCIES BUT FACE HIGHER COSTS #Musalem #Federalreserve #economy Fed's Musalem: Tariffs are about half of the current inflation overshoot. MUSALEM: WARSH IS EXCEPTIONALLY QUALIFIED FOR FED CHAIR JOB ...

Fed’s Miran: Rates Are Too Restrictive – BBG TV - Now That Neutral Is Closer, Can Proceed At A Slower Pace Fed's Miran: There is plenty of evidence in labor data we can have more demand.