EUR/USD

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 ...

Working natural gas in storage across the United States increased by 43 billion cubic feet (Bcf) in the week ending July 10, compared to the previous seven-day period, to reach 3,024 Bcf, the Energy Information Administration (EIA) revealed in its report on Thursday. On an annual basis, the natural gas stockpiles dipped by 21 billion cubic feet. Meanwhile, ...

June US retail sales matched market expectations, rising 0.2% month-on-month at the headline level with the control group, which excludes volatile items (gasoline, food service, autos, building materials), and better tracks broader consumer spending trends, rising 0.5% MoM. Remember these are dollar value figures and lower gasoline prices meant gasoline ...

Business inventories in the United States increased by 0.3% in May compared to the month before, and reached $2,736.2 billion, the US Census Bureau revealed in its report on Thursday. On an annual basis, the figure rose by 3.1%. The combined value of trade sales and manufacturers' shipments landed at $2,135.0 billion in the reported month, climbing by 2.1% ...

Pending home sales in June decreased by 5.4% month-over-month and 0.3% year-over-year, according to the National Association of REALTORS® Pending Home Sales report. The report provides the real estate ecosystem—including agents, homebuyers and sellers—with data on the level of home sales under contract. Month-over-month pending home sales declined in all ...

Economic uncertainty and persistent affordability challenges driven by rising material prices, high land costs, and elevated mortgage rates continue to weigh on builder sentiment. Builder confidence in the market for newly built single-family homes fell two points to 34 in July, down from an upwardly revised reading of 36 in June, according to the National ...