Oil prices dropped by a dollar in early Asian trading on Monday, following disappointing Chinese inflation data that heightened concerns about demand, with Brent crude futures at $77.92 and U.S. West Texas Intermediate at $74.49 per barrel amid uncertainty over potential economic stimulus measures.
Fed’s Jefferson urges patience on rates; Kashkari sees more hikes ahead
Federal Reserve Vice Chair Philip Jefferson stated that he sees no immediate need for further interest rate adjustments. He emphasized that future decisions would depend