Federal Reserve Establishes Benchmark Rate Committee

According to Odaily, Federal Reserve's John Williams announced the formation of a new committee dedicated to the use and understanding of benchmark rates. This committee aims to assist the market in effectively utilizing and comprehending these rates. Williams did not provide any comments on the current economic situation or monetary policy during his announcement. Additionally, Federal Reserve Chairman Jerome Powell, in his brief opening remarks at the New York Federal Reserve, refrained from discussing monetary policy or the economic outlook.