Williams said the Fed has a good understanding of how to adjust demand for reserves.

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CNN, citing a US official, reports Trump decided Wednesday night to order a new round of strikes on Iran, partly because the Strait of Hormuz had not fully reopened and because Iran attacked vessels transiting the strait while he was at the NATO summit. The official said the timing — an attack while Trump met other leaders — particularly provoked him; Trump said he had lost patience with the pace of nuclear talks, accused Tehran of lying and breaking agreements, and called the nuclear issue '99.9%' of his work.