Deputy Treasury Secretary Adeyemo speaking
US Deputy Treasury Secretary Adeyemo speaking on CNBC says:
- US Manufacturers, distributors to step up compliance with Russia sanctions.
- US CEOs need to pay more attention to supply chain.
- US banks, CEOs are not complicit with Russia's evasion of sanctions over Ukraine.
- Without China, Russia's military supply chain would ground to a halt.
- While US economy is doing better, there are still challenges.
- Administration focused on bringing costs down.
- G7 has indicated that China will face higher tariffs from a collection of countries that want to level the trade playing field.
- We expect inflation to continue to come down.
- We have to build more housing in this country and expect those prices to come down too
- Hopes retailers cut prices like Walmart and Target have done
if you might be expecting comments from Fed officials, think again. The Fed is in its quiet period until the Fed rate decision on June 12. That meeting will also include the latest dot-plot and central tendencies for growth, employment and prices.
Speaking of employment, the US jobs report will be released on Friday at 8:30 AM ET. The expectations are for a gain of 185K after a gain of 175K last week. The employment rate is expected at 3.9%.
Later at 10 AM ET, the US JOLTs job openings will be release with expectations of 8.355M vs 8.488M last month. That number would be the lowest level since February 2021.