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EMERGING MARKETS: Global news: October 09

EMERGING MARKETS
  • US – Federal Reserve Vice Chair Philip Jefferson said risks to the central bank’s employment and inflation goals are now closer to equal. “The balance of risks to our two mandates has changed - as risks to inflation have diminished and risks to employment have risen, these risks have been brought roughly into balance,” Jefferson said Tuesday in prepared remarks. In his first public speech since May, he said he’ll be assessing incoming economic data and the balance of risks “when considering additional adjustments to the federal funds target range.”
  • US/ISRAEL (MNI) – President Biden and Israeli PM Benjamin Netanyahu are expected to hold a call this morning to discuss Israel's response to Iran's ballistic missile attack. Biden is expected to counsel Netanyahu against striking Iran's nuclear or energy infrastructure out of fears of sparking a broader Middle East conflict and driving up energy prices close to the US presidential election.
  • US – Hurricane Milton is heading toward Florida’s west coast as a dangerous Category 5 storm, with flooding and high winds expected to inflict widespread damage and put lives at risk. Milton’s top winds have dipped slightly to 160mph, the US National Hurricane Centre said. While wind speeds may fluctuate until landfall, the storm will still be capable of causing devastation across the Florida peninsula when it arrives Wednesday night, according to the hurricane centre.
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  • US – Federal Reserve Vice Chair Philip Jefferson said risks to the central bank’s employment and inflation goals are now closer to equal. “The balance of risks to our two mandates has changed - as risks to inflation have diminished and risks to employment have risen, these risks have been brought roughly into balance,” Jefferson said Tuesday in prepared remarks. In his first public speech since May, he said he’ll be assessing incoming economic data and the balance of risks “when considering additional adjustments to the federal funds target range.”
  • US/ISRAEL (MNI) – President Biden and Israeli PM Benjamin Netanyahu are expected to hold a call this morning to discuss Israel's response to Iran's ballistic missile attack. Biden is expected to counsel Netanyahu against striking Iran's nuclear or energy infrastructure out of fears of sparking a broader Middle East conflict and driving up energy prices close to the US presidential election.
  • US – Hurricane Milton is heading toward Florida’s west coast as a dangerous Category 5 storm, with flooding and high winds expected to inflict widespread damage and put lives at risk. Milton’s top winds have dipped slightly to 160mph, the US National Hurricane Centre said. While wind speeds may fluctuate until landfall, the storm will still be capable of causing devastation across the Florida peninsula when it arrives Wednesday night, according to the hurricane centre.