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BOSTIC: MY OUTLOOK SEES CUTTING RATES AT THE END OF THE  YEAR

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MNI China Daily Summary: Thursday, May 16

MNI BRIEF: China To Take Necessary Measures Following Tariffs

MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

US EIA:NAT GAS STORAGE +70 BCF TO 2,633 BCF MAY 10 WK

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Homebuilding Activity Transitioning From Plateau To Pullback

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MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Fed Does Not Lack For Diversity of Views

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  • Q: Provide an update on changes to the Basel III endgame proposal?
    • A: haven't made any decisions on policy. Or on process. No decisions have been made. I'll say again, though. If we conclude that re-proposal is appropriate, we won't hesitate to insist on that.
  • Final Q: Given a lack of dissents at these meetings - how do you avoid groupthink?
    • A: If you listen to my 18 colleagues on the FOMC, you'll see we do not lack for diversity... I think the perspectives are very diverse. A thoughtful dissent is a good thing. All I can say from my standpoint is I listen carefully to people. I try to incorporate their thinking, or do everything I can to incorporate their thinking into what we're doing. For most people, most of the time, that will be enough.
  • Press Conference Ends
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  • Q: Provide an update on changes to the Basel III endgame proposal?
    • A: haven't made any decisions on policy. Or on process. No decisions have been made. I'll say again, though. If we conclude that re-proposal is appropriate, we won't hesitate to insist on that.
  • Final Q: Given a lack of dissents at these meetings - how do you avoid groupthink?
    • A: If you listen to my 18 colleagues on the FOMC, you'll see we do not lack for diversity... I think the perspectives are very diverse. A thoughtful dissent is a good thing. All I can say from my standpoint is I listen carefully to people. I try to incorporate their thinking, or do everything I can to incorporate their thinking into what we're doing. For most people, most of the time, that will be enough.
  • Press Conference Ends