Fed’s Waller sees cooler inflation despite higher forecasts
U.S. Federal Reserve President Christopher Waller responded to the central bank's forecast for rising prices and growing expectations among investors that the Fed may not cut rates significantly this year. , showed a redoubled stance on further interest rate cuts and curbing inflation. “We believe that inflation will continue to move toward our 2% target […]
Janet Yellen admits COVID spending may have contributed ‘little bit’ to inflation
Treasury Secretary Janet Yellen said in a CNBC interview Wednesday that the Biden administration's stimulus spending to keep the economy afloat during the coronavirus pandemic may have contributed slightly to inflation. Yellen said supply chain issues and shortages were the main factors driving up prices during the pandemic, but acknowledged that stimulus spending may have […]
Australian Dollar remains subdued despite a stronger monthly inflation – FXStreet
The Australian dollar weakened as Australia's trimming average fell from 3.5% to 3.2% annually. Australia's monthly consumer price index rose 2.3% year-on-year in November, the highest level since August. The dollar rose on Tuesday as the yield on the 10-year U.S. Treasury rose more than 1%. The Australian dollar (AUD) remains weak against the US […]
Dollar on back foot; euro awaits key inflation release – Investing.com
Investing.com – The U.S. dollar fell on Tuesday after reports that President-elect Donald Trump's tariffs may be less aggressive, heading for a one-week low while ahead of key inflation data. The euro rose. At 4:25 a.m. ET, the dollar index against a basket of six other currencies was trading 0.3% lower at 107.775, after falling […]
EUR/USD remains subdued around 1.0300 ahead of preliminary German inflation – FXStreet
Differences in monetary policy outlooks between the Fed and ECB could cause EUR/USD to fall to parity. Markets are pricing in a 113 basis point cut in ECB interest rates this year. The US Federal Reserve is expected to pause its easing cycle at its January meeting. EUR/USD fell slightly after registering gains in the […]
NYC residents slapped with congestion pricing ‘surcharge’ by fed-up companies paying new toll: ‘Hochul inflation’
Residents of Manhattan's congestion pricing zones could potentially pay new tolls even if they don't drive. Businesses providing deliveries and services in the central business district south of 60th Street are sending notices to customers that the handling fee will be added as an additional charge to their bills. CompuVoip, a phone and data services […]
Japanese Yen rises following Tokyo CPI inflation – FXStreet
The Japanese yen strengthened following the release of Tokyo CPI inflation data, which showed an increase in December. The Tokyo Consumer Price Index in December was 3.0% compared to the previous year, up from 2.6% in November. The US dollar rose slightly as the possibility of further interest rate cuts by the US Federal Reserve […]
USD/JPY holds below 158.00 after Tokyo CPI inflation data – FXStreet
USD/JPY lost momentum to around 157.75 early Friday Asian time. Tokyo CPI rose 3.0% year-on-year in December, compared to a 2.6% rise year-on-year. The Federal Reserve has signaled it will slow its rate of rate cuts, which could support the dollar. In early Asian trading on Friday, USD/JPY lost momentum to around 157.75. The Japanese […]
’12 Days of Christmas’ 5.4% higher than 2023 as inflation soars
The traditional British carol “The Twelve Days of Christmas” has long been a favorite during the holiday season, standing the test of time over the centuries and inspiring parodies like Bob Rivers' “The Twelve Days of Christmas.” has been created. But the song, which counts up from Christmas to the Feast of the Epiphany on […]
Biden’s Inflation Misstep Was a Warning Sign All Along
Biden's inflation crisis was a capability crisis. Joe Biden's presidency has always been marked by improvisation and a tendency to sidestep reality for expediency. But this was rarely more evident than in July 2021, when he assured the nation that “no economist in his right mind” was worried about inflation getting out of control. It […]