Fed speak - Not broken, not cutting “Don’t fix what isn’t broken” seems to be the Fed’s current stance. Two Fed officials made that clear over the last 24 hours.
Vice Chair for Supervision Michael Barr warned that tariffs could fuel inflation by lifting short-term expectations, triggering second-round effects, and making inflation more persistent.
New York Fed President John Williams echoed that view, noting that tariff-driven inflation is “likely to get stronger in the months ahead.” He also called policy “well positioned” and said the Fed needs more data before making any move.
EUR/USD has formed a rising wedge pattern on the daily chart—typically a bearish structure that warns of a potential reversal. Price action has narrowed, building two clear tops. The downside target from the wedge could potentially be 1.1066 initially, and possibly down to 1.0732 if bearish momentum accelerates.
