Sources say ARAMCO is seeking tens of billions of dollars and is considering including equity in its sulfur business in an asset-sale plan.

BNY Mellon Americas head of strategy John Velis expects the upcoming FOMC statement to explicitly flag two-way risks to short-term interest rates, consistent with the three dissents at the late-April meeting. The Summary of Economic Projections (dot plot) will be released; Velis anticipates the 2026 year-end median will drop the prior single-cut easing expectation that had appeared in earlier cycles.

At his first press conference as Fed chair, Wosh announced reforms including multiple task forces to broaden data collection and review the Fed’s statistical indicators. He repeatedly refused to provide forward guidance and declined to answer questions on the future path of interest rates. He did not submit a personal rate projection to the dot plot and said he will not comment on any market price moves during the press conference. Core message: reduce policy signaling to markets, avoid pre-committing to a rate path, and focus on institutional, data and communication reforms at the Fed.