Asia Market Movers: Fed's Jefferson says stopping second-round inflation effects is the Fed's core task

Thursday, 28 May, 2026 Central Banks Fed's Jefferson says stopping second-round inflation effects is the Fed's core task Fed Vice Chair Jefferson says monetary policy cannot offset first-round energy price effects but must prevent them converting into second-round inflation, with the resilient labor market keeping the f Central Banks ECB's Lane warns Iran war inflation could persist long after conflict ends ECB Chief Economist Lane warned that inflation from the Iran conflict could persist well beyond any resolution, citing second-round effects, supply chain repositioning, and non-linear price dynamics. Learn more Central Banks Fed's Kashkari says inflation much too high and remains his top priority Minneapolis Fed President Kashkari says inflation is much too high and remains his top priority, warning that unanchored expectations could force more aggressive action, with energy and fertilizer cos Stock market update South Korea's Kospi kopping it, drops lower ahead of Bank of Korea decision A hold at 2.5% is the expectation, with the interest being in any hawkish signal from new Governor Hyun Song Shin, who is chairing his first meeting. Two rate hikes in the second half of the year are Central Banks PBOC is expected to set the USD/CNY reference rate at 6.7861 – Reuters estimate The People’s Bank of China is due to set the daily USD/CNY reference rate at around 0115 GMT (2115 US Eastern time), a fixing that remains one of the most closely watched signals in Asian foreign exch Central Banks Fed's Jefferson says monetary policy is well positioned to respond, not prejudge June meet Fed Vice Chair Jefferson says monetary policy is well positioned to respond to developments but has not prejudged June's FOMC meeting, flagging upside inflation risks and energy shock exposure. Summar Commodities US strikes Iranian military site and downs drones in new Hormuz threat operation The US military has struck an Iranian military site threatening forces and commercial traffic in the Strait of Hormuz and shot down multiple Iranian drones, a US official told Reuters. Summary: The US News Hormuz explosions, Iran. Report it was US defense operation, ceasefire still holds. Oil up a little on the news: Fars News Agency report three explosions east of Bandar Abbas Iranian air defense systems activated United States has carried out a defense operation in Bandar Abbas, Iran Learn more Cryptocurrency Trump pump - says he saved crypto. The latest truth tweet from Trump, never mind the war! I left the date there at the bottom to confuse the flat earthers on the other side of the international date line.

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