Monetary Policy and the Federal Reserve’s OutlookFed policymaker Stephen Miran stressed that monetary policy should be forward-looking, cautioning that using backward-looking data is misguided. Factually, Miran noted that inflation expectations are reasonably well anchored and that the public expects the Fed to achieve low inflation. Impact of US Government Shutdown and Data DelaysThe ongoing US government shutdown presents significant economic and data-related challenges. It provides another key opportunity for market participants to assess the central bank’s conviction and potential next steps regarding monetary policy. Christine Lagarde’s statements offer direct insights into the ECB’s economic outlook, inflation forecast, and potential adjustments to monetary policy, often leading to significant EUR volatility.