In June, the Kansas City Fed manufacturing output index was -10, the previous value was -2.

Federal Reserve Chairman Powell: Large banks need to have a reasonable reason to increase capital further.

Federal Reserve Chairman Powell: Overall wages are growing faster than prices on a year-on-year basis.

Three-thirds of energy executives say artificial intelligence will not replace humans within the next five years, according to a Dallas Fed Energy Survey.

Federal Reserve Chairman Powell: Many people will say that the Phillips curve is not so flat now.

Energy executives expect WTI to trade at $77 a barrel by the end of 2023, according to the Dallas Fed Energy Survey.

Federal Reserve Chairman Powell: Marginal deficit spending stimulates the economy and has little impact on inflation.

Federal Reserve Chairman Jerome Powell: We are actively taking action to try to help banks deal with commercial real estate concentration risk.

[Fed Governor Bowman: Further interest rate hikes are needed to curb inflation] Federal Reserve Governor Bowman said that she believes that further interest rate hikes are necessary because inflation remains "unacceptably high" despite a recent decline in headline data. She noted that core inflation has been "basically stagnant" since the fall of 2022, but must come down. The Fed needs inflation to stay on a "consistent path" in order to decide on the appropriate policy steps at its upcoming meeting. In her view, further rate hikes would be "restrictive" enough to keep inflation in check.

Federal Reserve Chairman Powell: There is no consensus on how long it will take for monetary policy to have an impact on the economy, but a year or so is not a bad reference number.

Fed Chairman Powell: Tighter financial conditions take time to have an impact on the economy.

Federal Reserve Chairman Powell: Inflation has fallen, but mainly due to lower energy and food prices, not monetary policy (which has played a role).

Federal Reserve Chairman Powell: There may be some capital increase for banks, which may be 100 billion US dollars, which will not be lower than this figure.

USD/JPY rose more than 0.50% on the day and is now at 142.61.

Federal Reserve Chairman Powell: The upcoming plan will increase the capital requirements of large banks.

Federal Reserve Chairman Powell: It is necessary to strengthen the supervision and supervision of banks of the size of Silicon Valley Bank.

Fed Chairman Powell: The Fed is committed to learning the right lessons from Silicon Valley banks.

British Prime Minister Sunak: A large amount of borrowing has fueled the fire of inflation.