Federal Reserve Vice Chair Jefferson said inflation remains above target and upside risks persist.

U.S. Energy Secretary Wright said he is highly confident Europe will release emergency diesel reserves to help ease rising global fuel prices and added positive news may be forthcoming. Earlier reports said the Trump administration asked Germany and France to free emergency diesel stocks to relieve global fuel-price pressure and warned the U.S. might consider a diesel export ban otherwise. Wright said now is the time to release additional diesel into markets ahead of the harvest and winter heating demand peaks and that Europe has available supply.

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