Tag: forex markets
-
Fed no longer foresees a U.S. recession — and other things we learned from Powell’s press conference
[ad_1] The Federal Reserve on Wednesday raised its benchmark interest rate to a range of 5.25% to 5.5%, the highest level in 22 years, in order to combat “elevated” inflation. With financial markets and economists widely expecting that rate move, the focus was on Fed Chair Jerome Powell’s one-hour session with reporters, which followed. Here…
-
Everyone thinks Fed’s rate hike next week will be the last one — except the Fed
[ad_1] Wall Street economists seem convinced that the Federal Reserve will raise its benchmark interest rate by 25 basis points Wednesday and that this increase will turn out to be the final hike of this cycle. But they also don’t expect to hear Fed Chair Jerome Powell say so, at least not yet. “While we…
-
Buy these stocks if you think the U.S. dollar will keep getting weaker
[ad_1] Non-U.S. stocks will be particularly attractive to U.S. investors if the U.S. dollar continues to fall against foreign currencies. Many are predicting such a decline. One analyst even expects the dollar to “wipe out all its post-pandemic gains.” A declining dollar DX00, +0.01% benefits U.S. investors in non-U.S. stocks for two reasons: The local-currency…
-
U.S. bank lending falls slightly in latest week
[ad_1] The numbers: Commercial and industrial lending — a key driver of economic activity — fell by $2.1 billion to $2.75 trillion in the week ending July 12, the Federal Reserve said Friday. C&I loans hit a peak of $2.82 trillion in mid-March, right before the collapse of Silicon Valley Bank, and the pace of…
-
U.S. bank lending holds steady in latest week
[ad_1] The numbers: Commercial and industrial loans — a key economic driver — held roughly steady in the week ending July 5, the Federal Reserve said Friday. Loans rose $200 million to $2.754 trillion, the central bank said. Bank lending has been slowly decelerating, falling for three straight months. C&I loans hit a peak of…
-
Fed’s Waller, unimpressed by inflation data, calls for two more rate hikes this year
[ad_1] Federal Reserve Board Gov. Christopher Waller said Thursday he was not swayed by June’s benign consumer inflation data, and said he wants the central bank to go ahead with two more 25-basis-point rate hikes this year. “I see two more 25-basis-point hikes in the target range over the four remaining meetings this year as…
-
Consumers slam the brakes on borrowing in May
[ad_1] The numbers: Total consumer credit rose $7.2 billion in May, down from a revised $20.3 billion gain in the prior month, the Federal Reserve said Monday. That translates into a 1.8% annual rate, down from a revised 5% gain in the prior month. It is the lowest monthly increase in consumer borrowing since November…
-
Dollar falls to two-week low as U.S. job market cools off in June
[ad_1] The U.S. dollar fell Friday after data suggested that U.S. labor market, though still tight, may be cooling off as rising interest rates gradually weaken the economy. The ICE U.S. Dollar Index DXY, -0.88% on Friday fell almost 0.9% to as low as 102.2, the lowest level since June 22, according to Dow Jones…
-
Fed’s Williams: Incoming data points to need for higher interest rates
[ad_1] U.S. economic data in recent weeks points to the need for higher interest rates, said New York Federal Reserve President John Williams on Wednesday. “I think we have more work to do,” Williams said, during a moderated discussion at the annual meeting of the Central Bank Research Association. “I think the incoming data support…