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US Fed's progress against inflation 'not assured': Powell
The US Federal Reserve's progress in bringing down inflation is "not assured," the chair of the country's central bank told lawmakers in Washington Wednesday (Mar 6), on the first of two days of hearings in Congress. The Fed has raised its key lending rate to a 23-year high to tackle stubborn inflation, successfully bringing the rate of price increases down from multi-decade highs toward its long-run target of two per cent. But inflation remains elevated, and recent data indicate that the road to two per cent could be a bumpy one. "If the economy evolves broadly as expected, it will likely be appropriate to ... (full story)
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In a significant expansion of its trading services, ThinkMarkets, a globally recognised leader in multi-asset online trading, has announced the launch of spread betting on its ...
The Bank of Canada has left its policy rate unchanged at 5% as expected. The accompanying statement acknowledges that fourth quarter GDP grew more than expected, but recognises ...
post: *FED'S DALY: RECOGNIZE HIGH RATES ALSO RAISE HOUSING COSTS *DALY SAYS FED COMMITED TO FINISHING THE JOB ON INFLATION post: DALY: RISING HOUSING COSTS HAVE BEEN A KEY DRIVER OF HIGHER INFLATION
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Four big EUR questions heading into the ECB meeting: 1) Will the ECB remain fixated on a first rate cut in June? 2) Is inflation momentum turning? 3) What’s in the upcoming ...
Economic activity increased slightly, on balance, since early January, with eight Districts reporting slight to modest growth in activity, three others reporting no change, and one District noting a slight softening. Consumer spending, particularly on retail goods, inched down in recent weeks. Several reports cited heightened price sensitivity by consumers and noted that households continued to trade down and to shift spending away from discretionary goods. Activity in the leisure and hospitality sector varied by District and segment; while air travel was robust overall, demand for restaurants, hotels, and other establishments softened due to elevated prices, as well as to unusual weather conditions in certain regions. Manufacturing activity was largely unchanged, and supply bottlenecks normalized further. Nevertheless, delivery delays for electrical components continued. Ongoing shipping disruptions in the Red Sea and Panama Canal did not generally have a notable impact on businesses during the reporting period, although some contacts reported rising pressures on international shipping costs. Several reports highlighted a pickup in demand for residential real estate in recent weeks, largely owing to some moderation in mortgage rates, but noted that limited inventories hindered actual home sales. Commercial real estate activity was weak, particularly for office space, although there were reports of robust demand for new data centers, industrial and manufacturing spaces, and large infrastructure projects. Loan demand was stable to down, and credit quality was generally healthy despite a few reports of rising delinquencies. The outlook for future economic growth remained generally positive, with contacts noting expectations for stronger demand and less restrictive financial conditions over the next 6 to 12 months. Labor Markets Employment rose at a slight to modest pace in most Districts. Overall, labor market tightness eased further, with nearly all Districts highlighting some improvement in labor availability and employee retention. Businesses generally found it easier to fill open positions and to find qualified applicants, although difficulties persisted attracting workers for highly skilled positions, including health-care professionals, engineers, and skilled trades specialists such as welders and mechanics. Wages grew further across Districts, although several reports indicated a slower pace of increase. Employee expectations of pay adjustments were reportedly more in line with historical averages. post: FED'S BEIGE BOOK: ECONOMIC ACTIVITIY 'INCREASED SLIGHTLY, ON BALANCE;' 'SLIGHT TO MODEST GROWTH IN ACTIVITIY #BeigeBk #FederalReserve #economy post: FED BEIGE BOOK: EMPLOYMENT ROSE AT A SLIGHT TO MODEST PACE IN MOST DISTRICTS. post: FED BEIGE BOOK: THE OUTLOOK FOR FUTURE ECONOMIC GROWTH REMAINED GENERALLY POSITIVE, WITH CONTACTS NOTING EXPECTATIONS FOR STRONGER DEMAND AND LESS RESTRICTIVE FINANCIAL CONDITIONS OVER THE NEXT 6 TO 12 MONTHS. post: FED BEIGE BOOK: CONSUMER SPENDING, PARTICULARLY ON RETAIL GOODS, INCHED DOWN IN RECENT WEEKS.
video USD/JPY continues to trade within last month’s range as it negates an ascending triangle formation, but the exchange rate may stage further attempts to test the February ...
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- Posted: Mar 6, 2024 12:51pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 3,933
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