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Federal Reserve Chairman Barkin: I don’t know Warsh very well, but this nominee for Federal Reserve Chairman seems to be highly capable and charismatic.Federal Reserve Bank of Barkin: There are encouraging signs in demand and GDP data.Federal Reserve Bank of Barkin: Productivity issues are different from those of the 1990s.Federal Reserve Chairman Barkin: I look forward to working with Federal Reserve Chairman nominee Kevin Warsh.February 3 - Ukrainian drone attacks on Russian oil refineries fell to a six-month low in January, allowing Russia to increase domestic fuel supplies and resume gasoline exports. According to statements from officials of both countries, Ukraine targeted only three Russian refineries that month, a significant decrease from 11 in December. All affected plants were small, independently operated enterprises; foreign media estimates suggest these refineries accounted for less than 7% of Russias regular January production. Last year, many refineries had to suspend or reduce operations due to repeated high-precision attacks. The easing of tensions in January was reflected in the governments decision to lift most of the gasoline export bans, allowing producers to resume exports a month ahead of schedule. However, the Russian refining industry has not yet returned to normal operations. Data from the analysis firm OilX shows that Russias average daily crude oil processing volume last month was approximately 5.3 million barrels, while the normal January level typically exceeds 5.6 million barrels.

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