FED'S GOOLSBEE: A STAGFLATION SHOCK IS ONE OF THE WORST THINGS FOR A CENTRAL BANK TO DEAL WITH

President Donald Trump said there is no need to impose restrictions on U.S. oil or jet fuel exports despite global supply shortages caused by disruptions in the Strait of Hormuz. Speaking in Washington, Trump said the U.S. has “tremendous amounts of oil” and praised the surge in exports that has made the country the world’s largest crude exporter ahead of Saudi Arabia. Analysts have warned that elevated export levels could strain domestic supply capacity, but Trump dismissed those concerns and said ships are increasingly loading crude from ports in Texas, Louisiana and Alaska as trade routes shift away from Hormuz.

Morgan Stanley analysts said China is positioned to extend its manufacturing dominance through humanoid robots and automation, drawing parallels with its earlier rise in electric vehicles. The report projected China’s global export share could rise from about 15% to 16.5% by 2030, supported by state-backed investment and rapid industrial scaling. It forecast annual humanoid robot sales could exceed 28,000 units this year, noting China already accounts for roughly 54% of global industrial robot installations in 2024, while also warning that intense domestic competition could weigh on pricing power.