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The Fed is 'meaningfully deviating' from Taylor rule, a tool for fighting inflation, BofA warns

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Quick note: Subscribe to the forthcoming Fortune Gulf Brief. Every Tuesday, this new newsletter will deliver clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here. THE MARKETSQ1 earnings have “blown past expectations” S&P 500 futures were down 0.36% this morning. The index rose 0.19% yesterday to a new record high of 7,412.84.  In Europe, the Stoxx 600 was down 0.77% in early trading and the U.K.’s FTSE 100 was down 0.54% before lunch. Asia: South Korea’s KOSPI lost 2.29%. Japan’s…

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