Fed's Daly: Inflation Rate Unlikely to Reach 2% Target This Year
According to a report by Jinse Finance, Federal Reserve's Daly stated, "It is difficult to achieve the 2% inflation target this year. Real progress has been made on the inflation issue, and the Federal Reserve is firmly committed to achieving the inflation target. The Federal Reserve's monetary policy and the U.S. economy are in good condition. Deregulation and tax cuts are generally beneficial for economic growth. It is expected to continue driving down inflation, and although the labor market has slowed down, it remains strong. It is not the right time to adjust the Federal Reserve's dual mandate."
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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.
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