U.S Defense Secretary Lloyd Austin said the United States will send multiple military ships and aircraft closer to Israel as a show of support. "The scale of the attack and loss of lives imply that the response is likely to last for a few months, potentially till year-end," said Mohit Kumar, chief economist Europe at Jefferies. Over the weekend, Federal Reserve Governor Michelle Bowman reiterated that inflation continues to be too high despite "considerable" progress in lowering it, and the U.S. central bank will likely need to further tighten monetary policy.