Daily Financial Breakfast 14 November 2026: Further Rate Hikes Favoured by Fed Officials; Nagel Points to Another ECB Increase

Today’s Market News: Key Developments

  • Further rate rises drew support from Federal Reserve officials. Mary Daly singled out inflation as the economy’s main problem, while Susan Collins and Austan Goolsbee highlighted widening price pressures.
  • With second-round inflation risks increasing, Bundesbank President Joachim Nagel signalled that another European Central Bank interest rate rise would be necessary.
  • Coinbase CEO Brian Armstrong and World Liberty Financial feature as possible targets for Democratic congressional scrutiny in an unofficial blueprint from a progressive group, according to crypto reporter Eleanor Terrett.
TMGM Analysis: Financial Market News, Economic Calendar & Market Insights

Central Bank Policy

Broader Inflation Pressures: Fed Officials Support Further Rate Rises

Inflation remains the “key problem.” That was the assessment of San Francisco Federal Reserve President Mary C. Daly on Friday, although she described the U.S. economy as being in good shape. With businesses seeking to pass on costs, she said the “bias is that rates need to go up,”

A cautious approach to additional rate rises received support from Boston Fed President Susan Collins, who said “inflation is too high and appears to be broadening,”. Chicago Fed President Austan Goolsbee noted that inflation had reached categories “where prices are not being driven by energy”. To preserve its credibility, he said, the Fed “definitely has work to do”.

Rising Inflation Risks: Nagel Signals Further ECB Rate Rise

Growing risks of second-round inflation effects would require the ECB to increase interest rates again, Bundesbank President Joachim Nagel indicated. Nagel also serves on the European Central Bank’s Governing Council.

U.S. Regulatory Developments

January 2027 Congressional Transition: Terrett Reports Scrutiny Blueprint for Trump-Linked Crypto Firms

January 2027 is when Democrats are preparing to take control of Congress. Against that backdrop, an oversight blueprint circulated by an outside progressive group names Coinbase CEO Brian Armstrong and World Liberty Financial among possible targets of congressional scrutiny, crypto reporter Eleanor Terrett reported on Friday. The proposed scrutiny centres on crypto executives’ ties to President Donald Trump.

Although Democratic staff have reportedly examined the document, it is not an official congressional plan. The blueprint proposes calling Armstrong as a hearing witness. Former aides to Senator Elizabeth Warren lead the group behind it.

Democratic investigations could reach beyond cryptocurrency into corporate America more widely, warned former House Financial Services Committee Chairman Patrick McHenry. Ahead of the congressional transition, Republicans are also moving faster on the SEC nominations of Steven Levine and Kristin Johnson.

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