Powell says Fed will fix inflation, calls price stability ‘bedrock’ of economy
By Howard Schneider and Ann Saphir WASHINGTON (Reuters) -Calling stable prices the “bedrock” of the economy, Federal Reserve Chair Jerome Powell said on Thursday the U.S. central bank’s battle to control inflation would “include some pain” as the impact of higher interest rates is felt, but that the worse outcome would be for…
Dollar slips after CPI data as Fed expectations in check
By Chuck Mikolajczak NEW YORK (Reuters) – The dollar was lower on Wednesday after economic data showed inflation remained high but was unlikely to lead the Federal Reserve to shift to a more aggressive path of monetary policy. The consumer price index rose 0.3% last month, the smallest gain since August, the Labor…
Dollar higher in choppy trade as inflation data eyed
By Chuck Mikolajczak NEW YORK (Reuters) – The dollar rose on Tuesday, after fluctuating between modest gains and declines earlier in the session as it held near a two-decade high ahead of a key reading on inflation that could provide clues on the Federal Reserve’s monetary policy path. Equities were also choppy and…
U.S. dollar touches 20-year high as markets shun risk
By Chuck Mikolajczak NEW YORK (Reuters) – The U.S. dollar reached a new 20-year high on Monday as risk-off sentiment stemming in part from concerns over the Federal Reserve’s ability to combat high inflation boosted the greenback’s safe-haven appeal. The dollar has risen for five straight weeks as U.S. Treasury yields have climbed…
Dollar index hits 20-year high, sterling tumbles on dovish BoE
By Karen Brettell NEW YORK (Reuters) – The dollar hit a 20-year high against a basket of currencies on Thursday as a sharp stocks selloff boosted demand for the safe-haven currency and as the Federal Reserve was seen as tightening monetary policy more than peers. Stocks tumbled on Thursday as investors fretted the…
Dollar falls to one-week low as Powell pushes back against 75 bp hike
By Karen Brettell NEW YORK (Reuters) – The dollar fell to a one-week low against a basket of currencies on Wednesday after Federal Reserve Chairman Jerome Powell played down the prospect of a 75 basis point rate hike, even as he said the U.S. central bank will act aggressively to stamp out inflation.…
Dollar dips before Fed, Aussie gains after rate hike
By Karen Brettell NEW YORK (Reuters) – The U.S. dollar slipped against a basket of currencies on Tuesday, as investors evaluated how much of the Federal Reserve’s expected move to hike rates this week and beyond was already priced in. The dollar index hit a 20-year high last week on expectations the U.S.…
Dollar approaches 20-year highs, Fed meeting in focus
By Karen Brettell NEW YORK (Reuters) – The dollar held just below a 20-year high against a basket of currencies on Monday before an expected Federal Reserve rate hike this week, with traders focused on the potential for the U.S. central bank to adopt an even more hawkish tone than many expect. The…
Top 5 Things to Watch in Markets in the Week Ahead
By Noreen Burke Investing.com — With the Federal Reserve almost certainly set to deliver a half-percentage-point rate hike at its upcoming meeting on Wednesday, investors will be awaiting further insights on its next steps to combat surging inflation. The labor market is another key part of the Fed’s mandate and Friday’s U.S. employment…
Dollar towers at two-decade high on growth woes, Fed outlook
By Tom Westbrook SINGAPORE (Reuters) – The dollar held firm at a 20-year high on Friday and was poised to score its best monthly gain in a decade, buoyed by bets on rising U.S. interest rates and doubts about growth in Europe and China. The latest uptick was thanks to the Bank of…
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