Federal Reserve: Powell Meets with Trump at the White House, but No Discussion on Monetary Policy Expectations
The Federal Reserve stated that at the invitation of the U.S. President, Federal Reserve Chairman Powell met with the President at the White House today to discuss economic developments, including growth, employment, and inflation. Powell did not discuss his expectations for monetary policy, only emphasizing that the policy path will be entirely dependent on upcoming economic information and its implications for the outlook. Finally, Powell stated that he and his colleagues on the Federal Open Market Committee will formulate monetary policy as required by law to support maximum employment and stable prices, and these decisions will be made based on careful, objective, and non-political analysis. (Jin10)
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EIA expects Brent crude spot prices to remain at $100 per barrel for the rest of the year and raises the average price forecasts for this year and next.
The U.S. Energy Information Administration (EIA) has raised its forecast for average Brent crude oil prices in 2026 and 2027 to $97 and $86, respectively, reflecting pressures from global inventory declines, Middle East supply disruptions, and rising transportation costs. As oil production in the Middle East gradually recovers and global inventories rebound from low levels, the EIA expects the average spot price of Brent crude to fall to $87 per barrel in the second quarter of 2027, and further decline to $77 per barrel by the fourth quarter.

