EUR/USD

Fed's Jefferson: If inflation fails to ease, revisiting policy stance may be necessary to maintain price stability Fed's Jefferson: Current policy positioned to respond based on incoming data, evolving outlook and risk balance

Thank you for the kind introduction. I am delighted to be here at Stanford University today to discuss a topic that is central to the Federal Reserve's work: how policymakers analyze and respond to economic shocks in real time. The economy is constantly experiencing shocks that change economic conditions and that policymakers must consider. Today, I will ...

The United States’ top trade official says the Trump administration isn’t going to give Canada credit for its trade concessions. Jamieson Greer says he’s glad Canada dropped its digital services tax and “rolled back” its Online Streaming Act but they “don’t really get credit for doing something bad and then undoing it.” Prime Minister Mark Carney took those ...

Pending home sales plunged by 5.4% in June from May, seasonally adjusted, to the lowest level for any June on record, down 0.3% from the abysmally low levels in June last year, down 36% from June 2021, 37% from June 2020, 34% from June 2019, 32% from June 2018, and down 20% from June 2011, during the Housing Bust, according to data from the National ...

video Jeffrey Lacker is a prolific writer about, and respected critic of, the Federal Reserve, a path that started when he joined the Federal Reserve Bank of Richmond as an economist in 1989 and then went on to become President of the bank from 2004 to 2017. Kno He continues his work at the SOMC, Shadow Open Market Committee, and at the Mercatus Center at ...

When President Donald Trump approached the podium to deliver his State of the Union address in February, one of the few people who knew what he was about to say was allegedly setting himself up to profit from the president's words. Trump's longtime teleprompter operator is believed to have made tens of thousands of dollars by placing bets on that speech and ...

Fed's Schmid: Inflation is too hot and above target for too long. The Federal Reserve, Economic Outlook and Monetary Policy It is an honor to join you today. It is great to be back in Nebraska, my home state, and I look forward to our discussion. Just two weeks ago we marked our 250th birthday as a nation. And while we, as a country, might feel young in comparison to some other nations, the truth is that throughout history there are not many institutions or governments that have endured for as long. What is it that has made the United States so successful? One important element is the federated structure of the United States. Distributed power and decision-making across federal, state, and local governments connects Americans more closely within their communities and their government. It allows for a diversity of views and experimentation in how society should be governed. America has always had a healthy skepticism towards centralization and the concentration of power that has served us well over time.

Good morning. Thank you, Daron [Peschel], for that kind introduction. And welcome, everyone, to the Dallas Fed’s Houston branch. I’m looking forward to my conversation with Dr. Margaret Ford Fisher, chancellor of Houston City College, in just a few minutes. As I travel through the Dallas Fed’s district, I talk extensively with workers, bankers, business executives and community leaders, just as we’re doing here today. These dialogues matter for two reasons. First, they provide nuanced, up-to-date information. I’m grateful to everyone who takes time to talk. Your perspectives help me learn how people are experiencing the economy. You teach me how national policy decisions reverberate here in Texas. And you show me what trends are on the horizon. Aggregate macroeconomic statistics can be highly informative, but there’s no substitute for on-the-ground insight. Second, public dialogue lets you hold me accountable for serving you well. The Fed is an independent central bank. Independence means monetary policy decisions focus on the long term. We are still accountable to the American people. The Fed reports regularly to Congress. Community leaders on the board of directors at each Federal Reserve Bank select and evaluate its management. And in conversations like this one, you get to tell us how we’re doing. Through all those engagements, we expect and need the public to hold us to account for fulfilling the important mission you’ve trusted us with. The Federal Open Market Committee (FOMC) sets monetary policy to achieve two goals: maximum employment and stable prices. Congress assigned us those goals. We pursue both with vigor and focus. Everyone who wants to find work should be able to do so. Households and businesses should be able to count on low inflation so they can make ends meet today and plan for a prosperous future. In the long run, the FOMC’s two goals are complementary. They work in concert to support a strong and growing American economy. Today, I’d like to tell you why I currently believe modestly higher interest rates would better balance the outlook and risks for the FOMC’s dual mandate goals. These are my views and, let me emphasize, not necessarily those of my FOMC colleagues. The FOMC targets a 2 percent inflation rate as measured by the price inde Fed's Logan: Modestly higher interest rates would better balance outlook, risks. Fed's Logan: One month of lower CPI inflation is not enough. Fed's Logan: Downside risks to employment have faded, inflation risks are mainly to the upside.

Sturdy retail sales in the second quarter suggest consumers largely shrugged off higher fuel costs. Sales rose an expected 0.2% in June following an upwardly revised increase of 1.0% in May. Sales were mixed across outlets, with autos driving the gain. A pullback in fuel prices dragged down service stations receipts. The control measure of sales that ...

Just weeks ago, the 23 July ECB meeting looked like a formality — the last stop before summer break, the one meeting no one would have missed had it been cancelled at the last minute. However, the new escalation in the Middle East and the renewed rise in energy prices have changed the picture once again. Instead of gradually transitioning into summer ...