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Kansas City Federal Reserve President Jeffrey Schmid said on Thursday that the U.S. central bank's choice now is between being patient and holding interest rates steady or hiking rates to tamp down inflation that has been above target for years. "The big question now is do we stay patient?"

Kansas City Fed president Jeffrey Schmid said Thursday that the U.S. central bank's choice now is between being patient and holding interest rates steady or rate hikes to tamp down inflation that has been years above target. "The big question now is do we stay patient?"

San Francisco Federal Reserve President Mary Daly on Thursday said that while she believes AI over a five- to 10-year window could be a deflationary force, the effect is "not a pressing issue" for monetary policy which operates on a 12-month horizon.

* Boston Fed paper says changes in US energy use bear on Fed policy response. * Boston Fed researchers say Fed can concentrate on inflation issues amid current shock. * Some Fed officials weighing need for rate hikes to combat high inflation. By Michael S. Derby.

Canada unveiled a new artificial intelligence strategy on Thursday that it says will help create 250,000 jobs by 2031 and includes a new C$500 million tech fund to help homegrown AI firms.

Global supply chains remained under pressure in May as a result of the war in the Middle East, data from the New York Federal Reserve showed on Thursday, suggesting inflation pressures will remain formidable for the foreseeable future. The regional Fed bank's latest Global Supply Chain Pressure Index ebbed modestly to 1.77 from an unrevised 1.82 in April.

* Jobless claims rise above forecasts. * Oil prices fall on hopes for US-Iran deal and Israel-Lebanon ceasefire. * Fed's Lorie Logan says policy may be too loose. By Chuck Mikolajczak. U.S. Treasury yields were lower on Thursday, after labor market data was softer than expected, while oil prices tumbled on renewed optimism a deal to end the war between the U.S. and Iran could be reached.

* Weekly jobless claims increase 13,000 to 225,000. * Continuing claims drop 8,000 to 1.777 million. * First-quarter worker productivity growth, unit labor costs estimates revised lower. By Lucia Mutikani.

The number of Americans filing claims for unemployment benefits increased more than expected last week, touching their highest level in four months, but the underlying trend remained consistent with a stable labor market. Economists shrugged off the rise in weekly jobless claims reported by the Labor Department on Thursday as volatility related to last Monday's Memorial Day holiday.

The number of Americans filing claims for unemployment benefits increased more than expected last week, but the underlying trend remained consistent with a stable labor market. Initial claims for state unemployment benefits rose 13,000 to a seasonally adjusted 225,000 for the week ended May 30, the Labor Department said on Thursday.

16 meeting. * Ueda all but cemented June hike in hawkish narrative pivot. * Board to scrutinise war developments in reaching final decision. * No explicit opposition from dovish administration so far. * BOJ eyes pause or slowdown in bond taper next fiscal year. By Leika Kihara.

The Bank of Japan is expected to raise interest rates this month unless a sharp escalation in the Middle East conflict upends markets, three sources said, as rising fuel costs from the energy shock add to mounting price pressure in the economy.

* BOJ likely to raise policy rate to 1% at June 15-16 meeting. * Ueda all but cemented June hike in hawkish narrative pivot. * Board to scrutinise war developments in reaching final decision. By Leika Kihara.

The Federal Reserve's quarterly "dot plot" rate forecasts may soon lose their last projected rate cut, the so-called easing dot, and the plot itself could possibly disappear altogether. The new Fed chair is busily setting out his stall and dutifully consulting staff before his first policy meeting later this month.

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Egypt is finalising plans for its first yen-denominated bond sale in three years, foreign minister Badr Abdelatty told Reuters on a trip to Japan on Thursday. The African Development Bank said in December it would partially guarantee Cairo's planned $500 million-equivalent Samurai bonds on the Japanese markets this year.

Japan's government expects the Bank of Japan to conduct appropriate monetary policy toward a sustainable 2% inflation target that is driven by wage growth in close coordination with the government, Chief Cabinet Secretary Minoru Kihara said on Thursday.

Japanese government bond yields were varied on Thursday, with the benchmark edging higher while short-end yields extended gains as investors weighed firmer Bank of Japan rate-hike expectations and global inflation concerns.

* Fed's Beige Book highlights inflationary pressures, modest growth. * Outlook for economic growth uncertain, with signs of weak consumer spending. * Warsh convenes his first policy meeting as Fed chief in two weeks. * Fed's Logan says she is concerned a rate hike may be needed. By Ann Saphir and Howard Schneider.

Federal Reserve Chairman Kevin Warsh inherits an economy bolstered by an AI investment boom but pinched by rising prices from the Iran war, a Fed survey showed on Wednesday, setting up a fight over an interest rate hike when he runs his first policy meeting in two weeks.

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* Japan more exposed to spillover effects of inflation. * BOJ will keep raising rates at 'appropriate pace', Ueda says. * Ueda signals rate-hike chance even if Iran uncertainty remains. * Delaying rate hike may inflict huge burden on economy. * Speech heightens chance of June rate hike, analysts say. By Leika Kihara.

Federal Reserve Bank of Dallas President Lorie Logan on Wednesday said she feels monetary policy is currently "neutral or perhaps even a bit loose," in contrast with what she feels the economy needs in light of inflation that's too high.

Dallas Federal Reserve President Lorie Logan on Wednesday said signs of robust economic growth and corporate earnings "going gangbusters" are helping to make her worried that the Fed may need to raise interest rates this year to get inflation back down to its 2% target.

* Middle East tensions drive oil prices higher, fueling inflation concerns. * US economic data beats forecasts, with strong private payrolls and factory orders. * Fed's Williams sees no need to change rates despite inflation risks. By Chuck Mikolajczak.

* Fed's 'Beige Book' shows pervasive impact of higher energy prices. * Outlook for economic growth uncertain, with signs of weak consumer spending. * Warsh convenes his first policy meeting as Fed chief in two weeks. By Ann Saphir and Howard Schneider.

Brazil's trade surplus reached $7.8 billion in May, official data showed on Wednesday, above market expectations, as higher prices drove export growth at a faster pace than imports. Economists polled by Reuters had forecast a $7.7 billion surplus for the month.

Federal Reserve Chairman Kevin Warsh inherits an economy riding an investment boom but showing signs of consumer strain, weak hiring and rising prices, according to reports from his colleagues that will frame his debut meeting in two weeks as the head of the U.S. central bank.

U.S. economic activity increased a bit in recent weeks, employment was little changed, and the fallout from higher energy prices due to the war in the Middle East was pervasive, the Federal Reserve said on Wednesday, two weeks before Kevin Warsh convenes his first policy meeting as head of the U.S. central bank.

Brazil's trade surplus reached $7.82 billion in May, official data showed on Wednesday. Economists polled by Reuters had forecast a narrower $7.65 billion surplus for the month.

* Middle East tensions drive oil prices higher, fueling inflation concerns. * US economic data beats forecasts, with strong private payrolls and factory orders. * Fed's Williams sees no need to change rates despite inflation risks. By Chuck Mikolajczak.

Industrial production in Brazil exceeded market expectations in April, data from statistics agency IBGE showed on Wednesday, expanding for a fourth consecutive month despite tight monetary conditions. * Output rose 0.7% in April from March, while economists in a Reuters poll had expected a 0.4% increase. * Production expanded in two of the four main categories surveyed, IBGE said.

New York Federal Reserve President John Williams said on Wednesday he does not expect upside risks to inflation caused by the war in the Middle East to be long-lasting and reiterated there was no need at this time to change U.S. monetary policy.

Federal Reserve Bank of New York President John Williams reiterated on Wednesday that he does not believe the U.S. central bank needs to change the setting of short-term interest rates despite upside inflation risks tied to the Middle East war and other forces. "Monetary policy, I think, is exactly in the right place," Williams said in an interview on Yahoo Finance.

U.S. services sector activity picked up in May as businesses preemptively placed orders and rebuilt?inventories in anticipation of shortages and higher prices because of the war with Iran. The Institute for Supply Management said on Wednesday its nonmanufacturing purchasing managers index increased to 54.5 last month from 53.6 in April.

* Services PMI increases 0.9 percentage point to 54.5 in May. * New services orders jump as businesses replenish inventories. * Measure of prices paid for inputs increases to highest level since August 2022. By Lucia Mutikani.

Canada's services economy expanded at a modest pace in May as the Middle East conflict raised economic uncertainty and higher fuel prices contributed to the fastest increase in operating costs in four years, S&P ?Global's Canada services PMI data showed on Wednesday.

* US strikes near Hormuz. * US private payrolls increase in May, ADP says. * US NFP report due on Friday. By Ashitha Shivaprasad. Gold prices dipped on Wednesday, weighed down by expectations that war-driven inflation will keep interest rates elevated, while investors focused on developments in the Middle East and upcoming economic data.

U.S. private payrolls increased more than expected in May, the ADP's national employment report showed on Wednesday. The ADP report is jointly developed with the Stanford Digital Economy Lab, and was published ahead of the Bureau of Labor Statistics' more comprehensive and closely watched employment report for May on Friday.