Tag Archives: FOMC

For the second day, FOMC Chair Jerome Powell is testifying before the House Financial Services Committee on “Monetary Policy and the State of the Economy”. The US Dollar Index edged higher after these comments and was last seen rising 0.2% on the day at 104.38.Key Remarks“Our tools affect inflation, not …

FED Chairman Jerome Powell is testifying before the Senate Banking, Housing, & Urban Affairs Committee on “The Semiannual Monetary Policy Report to Congress.”Key Quotes“Higher interest rates are painful, but it’s the tool we have to bring down inflation.”“The greatest pain would be if we allowed this high inflation to continue.”“Not …

US President Joe Biden said that he is expected to make a decision this weekend to suspend the federal tax on gasoline, adding that a similar decision should be made based on clear data. It is worth noting that the study of suspending a tax on gasoline comes at a …

Most Americans believe that the US central bank cannot fix the factors driving Inflation and recession has lately become a key word in most economic discussions.Wages are not principally responsible for the inflation we’re seeing,” Federal Reserve Chairman Jerome Powell said on Wednesday. The tragic moment came also on Wednesday …

Stocks were volatile after the rate hike decision but jumped to session highs as Fed Chairman Jerome Powell said additional increases are on the horizon.Boeing and other shares closely linked to economic growth jumped higher on the hope that rates could rise without tipping the economy into a recession. Boeing …

The US Federal Reserve decided to hike 75 bps, greatly influenced by last Friday’s hot 8.6% CPI reading. Fed Chair Powell does not expect moves of 75 bps to be common; the USD/CAD plunged from 1.2995 to 1.2915 as a reaction.The US central bank expects to cut rates by 40 …

Fed Chair Jerome Powell said on Wednesday in his post-Fed meeting press conference that if the Fed doesn’t see progress on inflation, it will react. However, Powell mentioned that soon enough there will be some progress on bringing inflation back down and that he thinks the Fed’s guidance is still …

The USD/CHF extends its weekly rally and is up by 1.60%. Risk appetite is back as stocks rally, and safe-haven peers suffer.The USD/CHF clings to parity for the second successive day, trading at 1.0028, recording minimum gains of 0.11%, ahead of the US Fed monetary policy decision. Positive sentiment is …

The American dollar kept advancing on Tuesday, and retains its strength early Wednesday, as fear rules financial markets ahead of the US Federal Reserve policy decision.Market players had long ago anticipated a 50 bps hike, but on Monday, market talks suggested the central bank may go for a steeper hike …

“US economy is in a transition,” said White House Economic Adviser Brian Deese during an interview with CNN on Tuesday.The policymaker also signaled the WH’s aim to ease the price pressure and the Federal deficit during the interview.Such comments from the key diplomat ahead of the FOMC decision, up for …