The Federal Reserve accepted $453 mln from eight counterparties in fixed-rate reverse repurchase operations.

Federal Reserve's Barkin said transmission shocks such as tariffs and energy prices have not abated and current elevated inflation could feed into future inflation.

ECB chief economist LANE said a renewed energy-price shock, now affecting both oil and gas, will keep euro-area inflation higher and more persistent than the ECB initially expected. He said the second wave of price rises should push inflation up and extend its duration, with inflation only expected to fall back toward the ECB’s target from mid-2027, assuming the shock does not worsen. LANE warned a stronger, more persistent autumn shock would put pressure on the economy; if the shock is milder, large public spending in parts of Europe and some corporate AI activity should help sustain growth. His baseline: if the energy shock does not intensify, the euro-area economy should continue to grow at a steady but moderate pace.