PHILLIPS 66: SEEING GASOLINE, DIESEL DEMAND DOWN 1%

Fed Chair Jerome Powell and colleagues are weighing changes to post-meeting statement language that has signaled a bias toward future rate cuts, particularly the phrase “In considering the extent and timing of additional adjustments...”. Nick Timiraos of The Wall Street Journal reports officials see three options: keep wording unchanged, add “any” to soften the easing bias, or remove “additional” to neutralize directionality and imply moves could be up or down, with varying market impact.

WARREN: TRUMP IS BOXING OUT THE FED