HUFFINGTON POST: 100,000 Russian Troops Have Been Killed Or Injured In Ukraine, U.S. Says
WASHINGTON (AP) — Russia’s announced retreat from Kherson, a regional capital in southern Ukraine that it seized early in the war, and a potential stalemate in fighting over the winter could provide both countries an opportunity to negotiate peace, Army Gen. Mark Milley, chairman of the Joint Chiefs of Staff, said Wednesday.

He said as many as 40,000 Ukrainian civilians and “well over” 100,000 Russian soldiers have been killed or wounded in the war, now in its ninth month. “Same thing probably on the Ukrainian side,” Milley added.

“There has been a tremendous amount of suffering, human suffering,” he said at The Economic Club of New York.

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WALL STREET JOURNAL: Ukraine’s Forces Advance Cautiously on Kherson, Wary of Russia’s Retreat




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ECNY: Signature Luncheon

Join us for a Signature Luncheon as we welcome Stephen J. Squeri, Chairman and CEO of American Express. Mr. Squeri will talk about the future of payments and driving a customer-centric culture.

CNBC:  U.S. confirms it held talks with Kremlin over nuclear threat; Ukraine hit by emergency power shutdowns

Speaking at an event at the Economic Club of New York on Monday, Sullivan did not say he had been engaged in direct talks but noted he had said repeatedly that “we have channels to communicate with the Russian Federation at senior levels,” Reuters reported.
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ECNY: Signature Dinner

We are pleased to announce the Club will be hosting General Mark A. Milley, the 20th Chairman of the Joint Chiefs of Staff.
As principal military adviser to the President, Secretary of Defense and the National Security Council, General Milley will discuss geopolitical tensions and what is on the horizon.

NEWSBREAK: Russia-Ukraine war: no need to evacuate Kyiv, says Ukraine's PM, as country rules out peace talks with Moscow

White House national security adviser Jake Sullivan has been engaged in confidential talks with senior Russian officials and confirmed that “channels to communicate with the Russian Federation at senior levels” remain open between Washington and Moscow.

Speaking at an event at the Economic Club of New York on Monday, Sullivan said it was “in the interests” of the US and every country affected by the war in Ukraine to maintain contact with the Kremlin.

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THE WASHINGTON POST: White House says ‘lines of communication’ with Russia are still open

“We have done so when it’s been necessary to clarify potential misunderstandings and try to reduce risk and reduce the possibility of catastrophe like the potential use of nuclear weapons,” he told the Economic Club of New York, according to Reuters. Sullivan met last week with Ukrainian President Volodymyr Zelensky and other senior officials in Kyiv.

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ECNY: Signature Luncheon

Join us for a signature Luncheon with Jake Sullivan, Assistant to the President for National Security Affairs.

ECNY: Webcast Virtual Event

Author Series

The Club is happy to present English journalist and author Sebastian Mallaby, Paul A. Volcker senior fellow for international economics at the Council on Foreign Relations. Sebastian will talk about his new book: The Power Law, Venture Capital and the Making of the New Future.

ECNY: Webcast Virtual Event

We are pleased to kick off our New York City Series featuring Lee Zeldin, United States Congressman and Republican Nominee for New York State Governor. We have also invited Governor Hochel and will share details once confirmed.

ECNY: Signature Luncheon

Join us for a Signature Luncheon as we welcome Charlie Cook, Political Analyst, The Cook Report. Joining Charlie for this conversation is Bob Rubin, Former U.S. Secretary of Treasury as our Moderator. The two will discuss the upcoming midterm elections.

MARKET WATCH: Fed’s Mester says larger risks come from hiking rates too little
The Federal Reserve should be wary of wishful thinking about inflation that would lead the central bank to pause hiking interest rates or reverse course, Cleveland Fed President Loretta Mester said on Tuesday. “Given current economic conditions and the outlook, in my view, at this point the larger risks come from tightening too little and allowing very high inflation to persist and become embedded in the economy,” Mester said in remarks to the Economic Club of New York. Mester said her preferred path for the Fed’s benchmark rate is above the median forecast of the Fed’s “dot-plot,” which points to rates getting to a range of 4.5%-4.75% by next year.


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US NEWS MONEY: Fed's Mester Says Central Bank Has Yet to Make a Dent in Inflation

Federal Reserve Bank of Cleveland President Loretta Mester said Tuesday that even with a large amount of rate rises this year, the central bank has yet to get surging inflation under control and will need to press forward with tightening monetary policy.

“Unacceptably high and persistent inflation remains the key challenge facing the U.S. economy,” Mester said in a speech given before a gathering held by the Economic Club of New York. “Despite some moderation on the demand side of the economy and nascent signs of improvement in supply-side conditions, there has been no progress on inflation,” Mester said.
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BLOOMBERG: Fed's Loretta Mester Says More Restrictive Policy Needed to Cool Prices - Bloomberg

Federal Reserve Bank of Cleveland President Loretta Mester said officials need to keep raising interest rates and cannot get complacent as they work to battle the strongest inflation in a generation.

“Given the current level of inflation, its broad-based nature, and its persistence, I believe monetary policy will need to become more restrictive in order to put inflation on a sustainable downward path to 2%,” Mester said Tuesday in a speech to The Economic Club of New York.

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ECNY: Webcast Virtual Event

Diversity, Equity & Inclusion Series

We are honored to welcome Dr. Ruth Browne, President & CEO of Ronald McDonald House. Dr. Ruth Brown will discuss how the pandemic has caused a shift in the way her organization provides support and care and how they are overcoming these challenges to continue to drive a health equity agenda for families with pediatric illness in New York.

BLOOMBERG: Fed’s Mester Sees No Reason to Alter Balance-Sheet Runoff Plans
Federal Reserve Bank of Cleveland President Loretta Mester said the central bank should stick with its approach to shrinking its massive balance sheet, notwithstanding ongoing volatility in financial markets .

“I don’t see any need at the moment to adjust that plan. I think there is a lot of benefit to leaving that plan in place,” Mester said Tuesday during an interview with Kathleen Hays on Bloomberg Television. “Markets have understood the plan. They see it. They understand it.”

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BARRON'S: Cleveland Fed President Says There’s Been No Progress on Inflation, so Interest Rates Need to Move Higher

With little or no progress made on bringing inflation down, the Federal Reserve needs to continue raising interest rates, Cleveland Fed President Loretta Mester said Tuesday.

“At some point, you know, as inflation comes down, them my risk calculation will shift as well and we will want to either slow the rate increases, hold for some time and assess the cumulative impact on what we’ve done,” Mester told reporters after a speech to the Economic Club of New York.

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ECNY: Signature Luncheon

Join us for a Signature Luncheon as we welcome Loretta J. Mester, President and CEO of the Federal Reserve Bank of Cleveland. Loretta will join us to discuss monetary policy with respect to inflation and where current economic trends are headed.

NASDAQ: Fed's Mester says central bank has yet to make a dent in inflation
“Unacceptably high and persistent inflation remains the key challenge facing the U.S. economy,” Mester said in a speech given before a gathering held by the Economic Club of New York. “Despite some moderation on the demand side of the economy and nascent signs of improvement in supply-side conditions, there has been no progress on inflation,” Mester said.

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ECNY: Webcast Virtual Event

Diversity, Equity & Inclusion Series

Join David C. Banks, Chancellor of New York City Department of Education in conversation with Club Officer Ed Cox, as they will discuss the school system and how to build and maintain encouraging, diverse and safe learning environments for the children and families in New York City.