Fed Chairman Powell: We don’t want inflation to fall all the way to 2%, but we do need more evidence.

Federal Reserve Chairman Powell: The growth of property insurance has significantly increased inflationary pressure.

The U.S. 4-month Treasury bond auction as of March 6 - the winning interest rate was 5.205%, compared with the previous value of 5.23%.

Market news: U.S. Senate Majority Leader Schumer asked the U.S. Federal Trade Commission (FTC) to comprehensively investigate the merger of major oil companies.

Stellandis (STLA.N) announced a $6.1 billion investment in Brazil by 2030.

Fed Chairman Powell: (When asked about Basel III) The changes will be broad and substantive.

Brazilian President Lula: Venezuelan President Maduro told me that he will invite international observers to monitor the Venezuelan elections.

Brazilian President Lula: I want Venezuela’s elections to be as democratic as possible.

Market News: The governor of New York State will deploy state troops and police to New York subways due to increased violence.

Fed Chairman Powell: Executives responsible for failed banks should not profit from them.

U.S. officials: Personnel may have died in attack on ship in Gulf of Aden.

Fed Chairman Powell: Compensation incentives were not the main reason for the bankruptcy of Silicon Valley banks.

Fed Chairman Powell: We are being very careful to start with the climate risks of large banks rather than imposing them on small banks.

Fed Chairman Powell: We are not climate change policymakers.

Federal Reserve Chairman Powell: The failure of Silicon Valley Bank was due to an overly concentrated capital structure.

Fed Chairman Powell: We are deciding what to do with Basel III; we realize there is overlap with stress testing.

Tip: Bank of Canada Governor MacCallum’s press conference ends.