USD Price Action After the Rally: EUR/USD, GBP/USD, AUD/USD, USD/JPY, Gold

post: FED'S COLLINS: I AM MORE CONFIDENT INFLATION IS ON DURABLE PATH OF EBBING. post: FED'S COLLINS: IT IS IMPORTANT FOR FED TO PRESERVE HEALTHY LABOR MARKET CONDITIONS. post: FED'S COLLINS: CORE INFLATION HAS MODERATED BUT IS STILL ELEVATED.Remarks at the 23rd Annual Regional & Community Banker’s Conference at the Federal Reserve Bank of Boston Good afternoon. And thank you, Steve, for the kind introduction. I’m delighted to join you today for the Bank’s 23 rd Annual Regional & Community Bankers Conference. I’ll extend my thanks to the Supervision, Regulation & Credit team here at the Boston Fed for their work, and for hosting these important annual gatherings. I also want to thank our New England Public Policy Center’s Jeff Thompson for his presentation today on the regional economy. And I’d like to recognize the Bank’s First Vice President and Chief Operating Officer Karen Pennell, who joined the Boston Fed this spring after serving for decades in roles at the Kansas City Fed and our National IT function. We’re glad Karen is part of the Boston Fed, and I know that bankers around New England will appreciate her expertise and commitment to excellence. And thanks to all of you for attending, and for your constructive engagement with us at the Boston Reserve Bank. It takes all of us to support a safe and sound financial system, which is so essential to a vibrant economy that works for everyone. It was great to hear some of the discussions today, including the insightful panel on instant payments and the FedNow® Service. Today, I’ll focus most of my brief remarks on the national economy, and then touch on banking trends, and financial inclusion. Before I begin, let me note, as always, that my remarks today are my own views. I’m not speaking for any of my colleagues at other Federal Reserve Banks or at the Board of Governors.

Thank you, President Hicks and Tara Boehmler, for the kind introduction.1 Let me start by saying that I am saddened by the tragic loss of life, destruction, and damage resulting from Hurricane Helene in North Carolina, and throughout this region. My thoughts are with the people and communities affected, including those in the Davidson College family. For our part, the Federal Reserve and other federal and state financial regulatory agencies are working with banks and credit unions in the affected area to help make sure they can continue to meet the financial services needs of their communities. I am happy to be back at Davidson College. This is a special community. I am bound to it by a shared experience defined not by its length, but by its intensity. As I visited with you today, and as I look around this hall, I see the faces of colleagues who became dear friends during the COVID-19 pandemic. Back then, we spoke often about the unprecedented uncertainty we faced. Amidst that uncertainty, however, we supported each other on this campus. Now, looking back, we can attest that this mutual support was vital. I am grateful to have been amongst you during that unprecedented time. Today, I am proud to see that Davidson is stronger than ever. I am excited to be here with you this evening and to talk to you about the history of the Federal Reserve's discount window.2 The discount window is one of the tools the Fed uses to support the liquidity and stability of the banking system, and to implement monetary policy effectively. It was created in 1913 when the Fed was established. Today, more than 110 years later, this tool continues to play an important role. At the Fed, we always look for ways to improve our tools, including our discount window operations. Recently, the Fed published a request for information document to receive feedback from the public regarding operational aspects of the discount window and intraday credit.3 Today, I will do three things. First, I will discuss briefly my outlook for the U.S. economy. Second, I will offer my historical perspective on the discount window, starting in 1913 and ending in 2000. Finally, I will provide a few details about the request for information the Fed recently published. post: JEFFERSON FROM FED: EMPLOYMENT AND INFLATION GOALS ROUGHLY BALANCED post: JEFFERSON ANTICIPATES INFLATION WILL KEEP TRENDING TOWARDS 2%