Market is under-evaluating this problem with Saudi Arabia: Amy Myers Jaffe
Council on Foreign Relations' Amy Myers Jaffe on the impact of Saudi Arabia on the oil market.
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FortuneFed's Powell: PPI 'mixed,' next move unlikely to be a rate hike
Federal Reserve Chair Jerome Powell on Tuesday said the latest report on U.S. producer prices was more "mixed" than "hot" given that prior data was revised lower even as the figures for April came in higher than expected. "I wouldn't call it hot, I'd call it mixed," Powell said at an event in Amsterdam after the Labor Department released the Producer Price Index for April. Asked if the recent run of higher-than-expected inflation might mean that the Fed's policy rate is not sufficiently restrictive to return inflation to the Fed's 2% target, Powell said "time will tell."
Reuters