Chairman

• The Federal Reserve Board of Governors has established five new task forces dedicated to analyzing and improving the conduct of monetary policy. • Key focus areas include refining policy communications during uncertainty, evaluating the costs and benefits of the current balance sheet regime, and enhancing the timeliness of economic data. • These initiatives matter as they aim to strengthen the quality of real economic signals and institutional frameworks that inform critical policy judgments.

• Fed Chairman Kevin M. Warsh testified before Congress on Tuesday regarding the economic threats posed by rising energy prices. • The testimony follows new data showing the Consumer Price Index slowed to an annual inflation rate of 3.5 percent in June. • Warsh advocated for a shift toward private-sector data and new technologies to gain a real-time understanding of the economy.

• Federal Reserve Chairman Warsh appeared before the U.S. House Committee on Financial Services to deliver the semiannual Monetary Policy Report. • The testimony serves as a formal requirement under the Federal Reserve Act, ensuring transparency between the central bank and Congress. • This appearance allows the Federal Reserve to outline its current economic outlook and justify its strategic decisions regarding interest rates and monetary stability.

• The chairman of the Doha International Center for Interdialogue (DICID) emphasized that dialogue is a strategic necessity for enhancing social cohesion and reducing divisions rooted in religion, identity, and culture. • Speaking in Nicosia, the chairman highlighted how these initiatives promote shared citizenship and peaceful coexistence by framing diversity as a source of human development and cultural enrichment. • This diplomatic push underscores Qatar's broader commitment to international mediation and the reduction of global social tensions.

• Kuomintang (KMT) vice-chairman Chang Rong-kung met Wang Huning, China's top Taiwan affairs official, in Beijing on May 11, 2026, affirming that cross-strait relations are not state-to-state. • Chang emphasized shared beliefs that territory must not be divided and the nation must not be dispersed, as quoted by Wang during the summit reported by United Daily News. • The meeting underscores KMT's opposition stance toward Taiwan independence while engaging Beijing, amid ongoing tensions over Taiwan's status.

• The Federal Reserve voted to leave the benchmark federal funds rate unchanged at 3.5% to 3.75% on Wednesday, citing concerns about inflation rising amid the war in Iran. • This marks the continuation of the Fed's pause in rate adjustments following three successive 25-basis-point cuts in September, October, and December 2025. • Fed Chairman Jerome Powell is scheduled to hold a press conference at 2:30 p.m. ET to discuss the decision, marking what could be his final interest-rate announcement as Federal Reserve chair.