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NEW YORK (Reuters) -Federal Reserve Bank of Cleveland President Beth Hammack said Friday she voted against the central bank’s rate cut earlier this week because economic strength and the inflation outlook argued against easing policy. With monetary policy "not far" from a neutral stance, Hammack said she wants monetary policy to hold steady "until we see further evidence that inflation is resuming its path to our 2 percent objective,” she said in a statement released Friday as the quiet period around the most Federal Open Market Committee ended. On Wednesday, the Fed met expectations and cut its federal funds target range by a quarter percentage point, to between 4.25% and 4.5%.

(Bloomberg) -- The Bank of Russia held its key interest rate at a record-high 21%, surprising most analysts who’d expected policymakers to opt for another big hike to try to tame persistent inflation.Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisReviving a Little-Known Modernist Landmark in BuffaloThe Architects Who Built MiamiNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on

(Bloomberg) -- Two of the world’s biggest oil traders are expecting the market to be oversupplied next year — but both agree that Donald Trump might just change everything.Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisReviving a Little-Known Modernist Landmark in BuffaloThe Architects Who Built MiamiNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on SenegalTrafigura Group and G

(Bloomberg) -- Crude extended a weekly drop as traders weighed the outlook for slower easing by the Federal Reserve and Donald Trump’s tariff threat on EU countries unless they buy more US oil and gas.Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on SenegalRescuing a Little-Known Modernist Landmark in BuffaloBrent futures fell tow

November's Personal Consumption Expenditures report is the latest data point that will shape future monetary policy.

(Bloomberg) -- Federal Reserve Bank of San Francisco President Mary Daly said she is “very comfortable” with policymakers’ median projection of two interest-rate cuts next year, emphasizing the central bank can turn to a slower approach.Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on SenegalReviving a Little-Known Modernist Landm

LONDON (Reuters) -Oil prices fell on Friday on worries about demand growth in 2025, especially in top crude importer China, putting global oil benchmarks on track to end the week down more than 3%. Chinese state-owned refiner Sinopec said in its annual energy outlook released on Thursday that China's crude imports could peak as soon as 2025 and the country's oil consumption would peak by 2027 as diesel and gasoline demand weaken. "Benchmark crude prices are in a prolonged consolidation phase as the market heads towards the year-end weighed by uncertainty in oil demand growth," said Emril Jamil, senior research specialist at LSEG.