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(Bloomberg) -- In the first formal review of their policy strategy in five years, Federal Reserve officials are confronting a question that many outside the building have already taken up: Did their ambitious goals for a more inclusive job-market recovery after the pandemic slow their response to surging inflation?Most Read from BloombergWhy Barcelona Bought the Building That Symbolizes Its Housing CrisisPor qué Barcelona compró el edificio que simboliza su crisis inmobiliariaTrump Child Refugee

Federal Reserve governor Christopher Waller said the central bank should cut interest rates further if inflation makes more progress back toward target.

Oil lost early gains on Tuesday and prices were back near their previous close in the face of uncertainty over how supply will be affected by Ukraine-Russia peace talks, international trade tariffs and OPEC+ crude output. Brent crude futures were down 4 cents at $75.18 per barrel by 1406 GMT, retreating from $76.07 earlier in the session. "Day trading and short-term flows are ruling the fate of oil prices at present."

Federal Reserve Governor Christopher Waller said his "baseline" view is that the Trump administration's new tariffs will have only a modest impact on prices that the central bank should try to look through in setting monetary policy. Uncertainty about the impact of trade or other administration policies, Waller said, shouldn't stall the Fed from acting if it is otherwise appropriate, just as Russia's invasion of Ukraine in 2022 and the collapse of Silicon Valley Bank in 2023 did not prevent the Fed from changing interest rates even though both incidents raised doubts about the economic outlook.

(Bloomberg) -- New Zealand’s central bank is set to deliver its third big interest-rate cut in a row and signal further reductions this year to rekindle economic growth.Most Read from BloombergWhy Barcelona Bought the Building That Symbolizes Its Housing CrisisProgressive Portland Plots a ComebackPor qué Barcelona compró el edificio que simboliza su crisis inmobiliariaA Filmmaker’s Surreal Journey Into His Own Private WinnipegHow to Build a Neurodiverse CityThe Reserve Bank will lower the Offici

(Bloomberg) -- Federal Reserve Governor Michelle Bowman called for less opacity in bank oversight, saying the supervisory and regulatory approach needs updating so it better serves the financial system.Most Read from BloombergWhy Barcelona Bought the Building That Symbolizes Its Housing CrisisProgressive Portland Plots a ComebackPor qué Barcelona compró el edificio que simboliza su crisis inmobiliariaA Filmmaker’s Surreal Journey Into His Own Private WinnipegHow to Build a Neurodiverse City“The

Federal Reserve Governor Michelle Bowman said on Monday she wanted increased conviction that inflation will decline further this year before lowering interest rates again, particularly given uncertainty around the impact of the Trump administration's new trade and other policies. "I would like to gain greater confidence that progress in lowering inflation will continue as we consider making further adjustments," to a policy rate that the Fed is currently holding steady in the 4.25% to 4.5% range, Bowman said in remarks prepared for delivery to an American Bankers Association conference. The benchmark interest rate "is now in a good place, allowing the committee to be patient and pay closer attention to the inflation data as it evolves," she said, referring to the Fed's policy-setting Federal Open Market Committee.