Trump says Iran’s president asked for ceasefire, but U.S. wants Hormuz Strait open first

TRUMP: WILL EXPRESS 'MY DISGUST' WITH NATO IN HIS SPEECH; SAYS HE IS 'ABSOLUTELY' CONSIDERING WITHDRAWING U.S. FROM NATO Trump, ahead of speech: We've had full regime change in Iran Trump: Iran will not have a nuclear weapon, nor do they want one TRUMP: 'WE'RE GOING TO BE OUT OF IRAN PRETTY QUICKLY,' WON'T GIVE TIMELINE TRUMP: WE HAVE SOME MORE TARGETS LEFT; IF WE HAVE TO, WE'LL COME BACK TO DO SPOT HITS

Good morning. I would like to thank the American Enterprise Institute for the invitation to speak with you today, and I look forward to an engaging discussion with Michael Strain.1 The AEI is dedicated to advancing free markets and improving lives, for example, by focusing on growth, jobs and inflation. AEI scholars have emphasized the importance of basing monetary policy decisions on economic facts and data—rather than the political needs of the moment. That is the cornerstone of central bank independence. History has shown that countries with independent central banks have better outcomes in terms of stronger economic growth and low and stable inflation. With independence comes an obligation for accountability and transparency. That is why my Federal Open Market Committee (FOMC) colleagues and I are constantly engaging with stakeholders, why we are transparent about the factors that go into our decision-making, and why I am here today to share my views. These are my personal views and not necessarily those of other FOMC participants. The economic outlook is highly uncertain. A baseline scenario for 2026 has real GDP growing close to potential, the unemployment rate holding around its current level, and core inflation beginning to gradually ease toward 2% later in the year. But other outcomes are plausible. The risks to the labor market and inflation both tilt in unfavorable directions, that is, toward a weaker labor market and greater ST LOUIS FED'S MUSALEM Q&A/AEI: ECON PICTURE 'HIGHY UNCERTAIN;' REPEATS, POLICY 'WELL POSITIONED;' WATCHNG CLOSELY #Musalem #FederalReserve #economy FED'S MUSALEM SAYS MONETARY POLICY IS AT THE LOW SIDE OF THE NEUTRAL RANGE. Fed's Musalem: Holding rates is likely appropriate for some time Fed's Musalem: Supply shocks carry greater inflation risks in the current environment

ST LOUIS FED'S MUSALEM Q&A/AEI: COULD SUPPORT RATE HIKE IF INFLATION WORSENS #Musalem #FederalReserve #economy ST LOUIS FED'S MUSALEM Q&A/AEI: POLICY RATE APPROPRIATE 'FOR SOME TIME' BUT COULD SUPPORT RATE CUT IF INFLATION FALLS OR JOBS MKT WORSENS #Musalem #FederalReserve #economy ST LOUIS FED'S MUSALEM Q&A/AEI:LOOKING TO SEE HOW BROAD OIL SHOCK TO BE, DURATION, AND EFFECT ON INPUT PRICES #Musalem #FederalReserve #economy ST LOUIS FED'S MUSALEM Q&A/AEI: COMMITTED TO GETTING INFLATION RATE DOWN TO2%, NOT SOME HIGHER NUMBER; HAVE TO DEMONSTRATE SUCCESS #Musalem #FederalReserve #economy

March PMI® survey data from S&P Global pointed to a weakening in several measures of Canadian manufacturing sector performance in March. Production and employment both fell ...