- Reuters
Fed's Bostic says U.S. not past 'worry point' for inflation
"We're not past the worry point in terms of inflation getting back to our target," Bostic said during a virtual class session with Stanford University business school students, noting that the share of goods for which prices are rising faster than 3% or 5% is higher than in a normal environment, even in the latest consumer price index reading. "Job growth has been robust ... which tells me there's still a lot of energy in the economy, and it gives me comfort in staying at a more restrictive level because we're not at risk today, I don't think, of falling into a contractionary environment," Bostic said. Bostic leans a bit more hawkish than some of his colleagues at the Fed, though the higher-than-expected inflation readings in the first three months of the year have brought more of his fellow U.S. central bankers to a similar view: that they will need to keep the policy rate in its current range of 5.25%-5.5% for longer than they had previously thought.
- The Independent
Biden pulls out all the stops for Kenya’s leader with largest state dinner of presidency so far
500 guests will be seated in a pavilion featuring more than 1,000 candles to enjoy a dinner celebrating summer
- The Telegraph
Sophie Ecclestone spins England to fourth successive win over Pakistan
The brilliance of Sophie Ecclestone meant England made it four wins from four over Pakistan this month, with the change of format from T20 to ODI having no effect on the result.
