Fed Chairman Powell: We’re not sure if this is just a bump in the road to achieving our inflation target or if it’s a more serious problem.

Vitol Energy Group: Red Sea attacks increased fuel demand by approximately 100,000 barrels per day.

U.S. stocks continued to rise, with the Nasdaq expanding to 1%.

Fed Chairman Powell: Ultimately, we do think financial conditions are weighing on economic activity.

Fed Chairman Powell: We would like to see more data to strengthen our confidence that inflation is continuing to decline.

Fed Chairman Powell: The risks are indeed two-sided now.

U.S. Senate Minority Leader McConnell: The Senate may meet to discuss the spending bill this weekend.

Federal Reserve Chairman Powell: Stressed that inflation will return to the 2% target "over time."

Fed Chairman Powell: I think we will continue to see commodity prices continue to enter a new equilibrium.

Federal Reserve Chairman Powell: Not sure when rents will fall in the housing market.

Federal Reserve Chairman Powell: There is some confidence that the decline in rents in the housing market will gradually appear.

Fed Chairman Powell: Still, we are making good progress in lowering inflation.

Fed Chairman Powell: Raising the core PCE forecast does not mean an increase in tolerance for inflation.

Fed Chairman Powell: We will make decisions one by one.

Fed Chairman Powell: We will carefully evaluate incoming data to determine policy.