The benchmark price used for most fuel surcharges dropped for the third time in four weeks to a more than three-year low. The post As debate begins on Trump 47’s impact on oil, diesel benchmark hits 3-year low appeared first on FreightWaves.

NEW YORK (Reuters) -Even with some recent bouts of volatility, it appears money market liquidity levels remain robust, a top New York Federal Reserve official said on Tuesday, suggesting the case for the Fed to press on with its balance sheet drawdown can proceed. While the volatility that struck markets at the end of September is something that argues for central bankers to keep a close eye on markets, even with the churn, “I want to make clear that there is considerable evidence that reserve supply remains abundant - quarter-end pressures do not appear to be induced by a scarcity of reserves," said Roberto Perli, who manages the implementation of monetary policy at the Federal Reserve Bank of New York, in the text of a speech. “Although we are monitoring events closely, there are few obvious and foreseeable risks to our continuing to implement monetary policy efficiently and effectively” at the command of the rate setting Federal Open Market Committee, he said.

(Reuters) -The Federal Reserve's policy rate continues to act as a brake on the resilient labor market and on inflation that is still above the 2% target, two U.S. central bankers said on Tuesday, a view that appears to argue for more interest rate cuts, even as both signaled they were not ready to judge how fast or by how much. "In my judgment we are still in a modestly contractionary stance, but ultimately the economy will guide us, in terms of how far we are needing to go" in cutting the Fed's benchmark for short-term borrowing costs, Minneapolis Fed President Neel Kashkari said at a Yahoo Finance event. Speaking earlier, Richmond Fed President Thomas Barkin called the current level of rates "somewhat less restrictive" than it had been, and said he could see scenarios where demand rises and the central bank needs to focus on containing inflation, and others where businesses start laying off workers and it needs to turn more to protecting the job market.

(Bloomberg) -- Argentine President Javier Milei foreshadowed Tuesday he would change his currency policy after the end of the year if inflation stays constant in November and December. Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesThe Leaf Blowers Will Not Go QuietlyArizona Elections Signal Robust Immigration Enforcement Under TrumpScoring an Architectural Breakthrough in Denver’s RiNo DistrictMilei said he would slow the monthly pace of currency devaluation th