CySEC withdraws license of Forex broker HYCM

post: FED’S COLLINS: TOO SOON TO SAY IF INFLATION IS RETREATING AGAIN TO 2% || FED’S COLLINS: RECENT INFLATION DATA HAS BEEN ENCOURAGING || FED’S COLLINS: U.S. CENTRAL BANK HAS MADE NOTABLE PROGRESS LOWERING INFLATION FED’S COLLINS: ECONOMY HAS BEEN REMARKABLY RESILIENT || FED’S…Takeaways from Boston Fed President Susan M. Collins’ Remarks Collins is encouraged by recent economic data that suggests demand and supply are coming into better balance. Still, the appropriate approach to monetary policy continues to require patience. Collins says recent economic information is encouraging, after the string of higher-than-expected inflation readings during the first quarter of 2024. The data suggest an economy with demand and supply coming into better balance, as needed to restore price stability. However, she says, this process may take more time than previously thought. It is still uncertain whether inflation is durably on a path back to the 2 percent target. The appropriate monetary policy approach continues to require patience, providing time for a methodical assessment of the evolving constellation of available data.

post: ECB'S KNOT: WE MUST BASE FURTHER MONETARY DECISIONS ON INCOMING DATA.

Thank you for your introduction, Adam, and thank you for the invitation to speak here today. It is great to come to Peterson to discuss the economic outlook and monetary policy, which is my topic this afternoon.1 As I stand here today, inflation remains too high, but I am encouraged by the overall progress and trajectory. Recent data on the economy and inflation also give me cautious optimism that we are on track and making continued headway toward the Federal Open Market Committee's (FOMC) inflation goal of 2 percent. That progress may have paused in the first three months of the year, but information since then on economic activity, the labor market, and inflation points to renewed progress. Over the last year through April, personal consumption expenditures (PCE) inflation was 2.7 percent, down from 7.1 percent at its peak in 2022. Core PCE inflation—which excludes the volatile food and energy categories—was 2.8 percent through April, down from its peak of 5.6 percent. Based on consumer and producer price inflation for May released last week, I estimate that 12-month PCE inflation in May was a bit lower than in April. I was encouraged by some of the details of the recent reports, particularly the continued improvement in market-based services inflation, which is based on observation of actual market prices rather than imputed values. That's important because market-based prices are likely to be a better indication of the overall trend for core services inflation than nonmarket prices. Housing services inflation, meanwhile, continues to be persistent. Market rents for new tenant leases have already cooled significantly, but further progress in overall housing services inflation will rely on the ongoing pass-through of the previous market rents deceleration to the rents of existing tenants with expiring leases. So inflation is still too high, and further progress is likely to be gradual. However, there are several reasons why I remain optimistic that improving supply and cooling demand will support continued disinflation. The first reason I am optimistic about further progress on inflation has to do with declining price increases and even declining prices as consumers become more price sensitive. I think of this from several, related angles—I will mention a few. post: *FED'S KUGLER: LIKELY APPROPRIATE TO CUT RATES `LATER THIS YEAR' post: FED'S KUGLER: MONETARY POLICY IS SUFFICIENTLY RESTRICTIVE, ECONOMIC CONDITIONS ARE MOVING IN THE RIGHT DIRECTION.