WALLER said the Fed needs to raise rates to put downward pressure on inf.

S&P Global Energy ship-tracking data show 31 fully laden LNG carriers transited the Strait of Hormuz in October, the highest monthly count since shipping was disrupted by the US‑Iran conflict in February. Twenty‑three vessels were loaded at Qatar’s Ras Laffan and eight at the UAE’s Das Island, up from 23 transits in September. S&P Global Energy senior chief analyst Eric Yep said UAE transit volumes have returned to pre‑conflict levels, while Qatar’s Hormuz transits have recovered to more than 30% of pre‑conflict volumes.

Fed's Goolsbee: employment and growth are actually fairly stable.