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                          Fed’s Williams: Middle East Conflict Has Added to Economic Risks

New York Fed President John Williams said the Fed’s current interest-rate setting is calibrated well for an economy facing Middle East risks.
Williams warned the Iran war could lead to rising prices and a slowing economy, noting this has “begun to play out already.”
The Fed has held interest rates steady this year, with rates at 3.5% to 3.75%, and plans to keep them on pause at the next meeting.

                          Markets Calming Down After Getting Ahead of Themselves on Rates, BOE’s Taylor Says

Investors’ expectations for Bank of England policy changes have aligned more closely with the likely path, a BOE committee member said.
Alan Taylor, a BOE rate-setter, doubts further rate rises are needed due to the weak economy and soft jobs market.
Taylor estimates the neutral interest rate is 3%, while the current rate is 3.75%, indicating existing restrictiveness.

                          U.S. Industrial Production Fell in March

U.S. industrial production fell 0.5% in March, reported by the Federal Reserve, after a 0.7% increase in February.
Manufacturing activity decreased 0.1%, utilities output fell 2.3%, and mining output declined 1.2% last month.
Industrial capacity utilization was 75.7% in March, below February’s reading and the 76.3% consensus estimate.

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