The National Food and Strategic Reserves Administration told a State Council press briefing that China’s autumn grain procurement season typically runs from late September to the end of April. Preparations are complete; authorities will prioritize ensuring farmers can sell their grain and keeping grain prices at reasonable levels.

Boston Fed President Collins said she supports last week’s Fed rate increase and that a moderate rise in the federal funds rate will help ensure inflation durably returns to the central bank’s 2% target. With labor-market conditions improving, monetary policy can shift to restoring price stability in a timely manner after five-and-a-half years of elevated inflation, she said. Collins, who does not have a Fed policy vote this year, added that the probability inflation will remain significantly above 2% has risen.

Slovakia’s Prime Minister Robert Fico said on the 22nd the EU has failed to address surging energy prices and should convene an emergency summit. He said the Slovak government will take measures to control energy prices and will decide on those measures on the 23rd.