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On June 2nd, Federal Reserve official Hamak stated that maintaining current interest rates is reasonable given the considerable uncertainty surrounding the economic outlook, but officials may need to act quickly to address rising inflation. Hamak said she is more concerned about inflation, as it has exceeded the Fed's 2% target for five years; she is less worried about the continued strength of the labor market. Hamak stated that the Fed's benchmark interest rate "may not be restrictive," and she has not heard business owners complain that high interest rates are hindering their investment. Price pressures are "widespread," encompassing both goods and non-housing services.

Federal Reserve's Hammarck: The severe energy shock poses a major challenge to monetary policy.

Federal Reserve's Hamack: The unemployment rate is close to full employment.

Federal Reserve's Hamack: There are risks in waiting until high inflation begins to take root in the economy and there are clear signs before taking action.

Federal Reserve's Hammarck: The economy faces multiple factors driving inflation upward.

Federal Reserve's Hammarck: More concerned about the risk of persistently high inflation.

Federal Reserve's Hamak: Labor market data points to stability.

Federal Reserve's Hamack: Firmly committed to restoring inflation to 2%.

Hungarian Prime Minister Péter Magal said on June 2 that he hopes to reach a "technical" agreement with Kyiv this week on an issue concerning the rights of minority groups that has stalled negotiations for Ukraine's formal accession to the European Union. Hungary has blocked formal accession talks since the former prime minister presented Kyiv with a list of 11 demands in 2024 (covering the rights of Hungarian minorities in western Ukraine and access to Hungarian-language education). Magal, who came to power after winning the April election, has also set similar policy conditions. "Our most fundamental expectation is to clearly define the rights of Hungarian minorities, including their cultural, linguistic, and other rights. This is indeed a necessary precondition," Magal said on Tuesday. "But I believe and expect this agreement to be reached soon, at which point we can open a new chapter in Ukraine-Hungary relations." He is expected to meet with Volodymyr Zelensky next week.

Iranian Deputy Foreign Minister: The US president’s claim that he has prevented Netanyahu from launching a major attack on Beirut is less a sign of seeking peace than an affirmation of the direct role the US plays in managing the Zionist regime’s acts of aggression.

Supermicro (SMCI.O) shares rose 4.6% in pre-market trading after partnering with Arm to launch an energy-efficient AI server.

June 2nd - While U.S. stocks may continue to break records, Wall Street analysts who track them are not in a hurry to keep up with the rally. Researchers are downgrading ratings on S&P 500 companies. Jefferies data shows that the proportion of stocks with a "buy" rating in the broader Russell 3000 index is almost unchanged from four years ago, well below the peak levels seen during the dot-com bubble. Whatever the exact reasons behind this renewed skepticism, it is seen as a positive development. Conversely, this means market sentiment has not yet reached the extreme bullish levels that typically foreshadow a market top. Andrew Greenbain, senior vice president of equity research product management at Jefferies, said, "I usually think about market sentiment in terms of 'more new buyers or more sellers.' Currently, there are no signs of buying on the sell side."

IBM (IBM.N) shares narrowed their pre-market decline to 2.1%.

IBM (IBM.N) plans to invest more than $10 billion in quantum computing over the next five years.

Market news: Petrobras' board of directors has approved joining the diesel subsidy program.

According to Politico, Ukraine and Moldova are expected to begin formal EU member state negotiations in June.