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GBP/USD snaps the range bound price action from last week as the US ISM Manufacturing survey prints at 50.3 in March versus forecasts for a 48.4 reading, and the exchange rate may ...
Thank you, Dr. Darity, for your kind introduction. I am profoundly moved to be surrounded by family and friends, and it gives me another opportunity to tell all of you that I would not be where I am today without your support. I include in that circle my fellow award recipients today, Drs. Cecilia Rouse and Peter Blair Henry. I am beyond humbled and honored to receive this career achievement award from The Samuel DuBois Cook Center on Social Equity at Duke University, and I am inspired by what it represents. Of course, to me, Samuel DuBois Cook was simply "Uncle Sam." My Uncle Sam was a Korean War veteran, a political theorist, an activist, and the first African American tenured professor at Duke and any major southern university. He then went on to become president of Dillard University . . . the list goes on and on. Now that was a lifetime of achievement. At Morehouse College, Uncle Sam was a classmate of a young man named Martin Luther King, Jr. Before that, they picked tobacco together during the summer to earn the money they needed for their studies. Uncle Sam led the campus chapter of the NAACP at Morehouse and went on to become student body president (twice) and valedictorian. Along with my mother Mary Murray Cook, his brother and my dad Rev. Payton Brailsford Cook, my cousin and civil rights leader Floyd McKissick, Sr., and a host of other relatives, he instilled in me the deep belief of the Civil Rights Movement that with faith, preparation, and post: FED'S COOK SILENT ON ECONOMY AND MONETARY POLICY IN AWARD ACCEPTANCE SPEECH IN WASHINGTON
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post: Japan FinMin Suzuki: Closely Watching FX Moves With A High Sense Of Urgency - Won't Rule Out Any Steps To Respond To Disorderly Moves - Important For Currencies To Move In Stable Manner Reflecting Fundamentals, Says Rapid FX Moves Are Undesirable - Declines To Comment On FX…
A resurfaced speech from Chinese President Xi Jinping suggests policymakers may start trading government bonds to regulate liquidity in the market, pushing the nation toward ...
Members commenced their discussion of domestic economic conditions by assessing the recent data on output growth. They noted that growth had slowed further in the December quarter, largely as expected. Aggregate demand had been supported over 2023 by strong growth in business investment and public spending, and members considered how likely it was this would continue in 2024. Members also noted, however, that household consumption growth had been very weak and negative in per capita terms, as high inflation and increases in interest rates and tax payments had weighed on real incomes. They observed that real household disposable income had begun to grow again and was projected to pick up further as the drag from high inflation abated and pre-announced tax cuts took effect. Members discussed a range of factors that could influence the likelihood that consumption growth would pick up in response. Members observed that growth in underlying demand for housing remained brisk relative to supply, which was contributing to rising prices and rents. On the demand side, population growth remained high and the shift in preferences for more housing space that occurred during the pandemic was yet to unwind, despite worsening affordability. On the supply side, new housing had been constrained by ongoing capacity constraints – particularly for finishing trades and where the required skills were easily transferable to non-residential construction – and rapid increases in construction costs. Advertised rents had continued to grow strongly in most capital cities. Members noted the staff’s overall assessment that aggregate demand had continued to exceed supply in the latter part of 2023, but that the gap between the two was closing relatively quickly, in line with prior forecasts. post: RBA: NO MENTION IN MINUTES THAT BOARD CONSIDERED OPTION TO RAISE RATES post: RBA: WOULD TAKE "SOME TIME" BEFORE BOARD COULD BE CONFIDENT INFLATION RETURNING TO TARGET post: RBA: UPSIDE RISKS TO INFLATION HAD NOT YET MATERIALISED, WHILE CONSUMPTION WAS VERY WEAK post: RBA: OVERALL FINANCIAL CONDITIONS REMAINED RESTRICTIVE, PARTICULARLY FOR HOUSEHOLDS
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- Posted: Apr 1, 2024 7:50pm
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