PBOC: To ensure market plays key role in determining yuan rate

Fed's Williams: Growth in the economy is solid and on trend, and the labor market is likewise solid and stable. FED'S WILLIAMS: EXPECT OVERALL INFLATION TO DECLINE TO AROUND 3.25% BY YEAR-END, CONTINUE TOWARD OUR 2% GOAL IN 2027 AND LAND ON TARGET IN 2028 || MEDIUM- AND LONGER-TERM INFLATION EXPECTATIONS REMAIN WELL ANCHORED FED'S WILLIAMS: INFLATION IS UNQUESTIONABLY TOO HIGH AT ABOUT 4% || ENCOURAGING REASONS TO EXPECT THAT INFLATION HAS PEAKED AND SHOULD EDGE DOWN IN COMING QUARTERS Stability of Thy Times Thank you, Steve, for that introduction. And thank you, Rob, for what will surely be a fantastic discussion. Today’s event is an example of a great partnership in action. The New York Fed and the Partnership for New York City both have missions that are focused on promoting economic prosperity and stability. We’ve enjoyed a strong and fruitful relationship over the years, sharing ideas, data, and resources with each other in an effort to better understand how New York City can be best positioned for long-lasting economic success. This has been especially true during times of disruption and uncertainty. That’s why this is such a fitting place for this discussion. When Rockefeller Center was built during the Great Depression, these words were chosen to be inscribed in stone: “Wisdom and knowledge shall be the stability of thy times.” If you didn’t see it on your way in, make sure to take a look on your way out. Or just rewatch the opening credits of 30 Rock.

BoC's Gov. Macklem: The Canadian dollar weakness has not been a major factor in rate decisions. BoC's Gov. Macklem: I would not want to respond to a spike in inflation caused by rising oil prices that then came down.

US CENTCOM: : AT 6 A.M. ET TODAY, U.S. CENTRAL COMMAND FORCES BEGAN LAUNCHING A WAVE OF STRIKES AGAINST IRAN. - RTRS $CL U.S. launches fresh wave of strikes on Iran, as analysts warn conflict risks becoming ‘forever war’ The U.S. launched a fresh round of strikes on Iran early Wednesday morning, hours after President Donald Trump warned military strikes would intensify next week if Tehran does not cooperate in peace talks. U.S. Central Command said in a post on X on Wednesday that it had begun launching a wave of strikes against Iran at 6 a.m. ET. “The strikes are designed to further degrade military capabilities Iranian forces have used to attack commercial shipping in the Strait of Hormuz,” it said. Centcom had carried out more strikes against Iran on Tuesday. Tehran, meanwhile, has launched attacks on multiple Gulf countries. In an interview with Fox News on Tuesday evening, Trump hinted that the conflict was more likely to intensify than de-escalate as a fragile ceasefire agreed last month continues to fracture.