Stephen Miran, a Federal Reserve governor whose term ends at the end of January, said Thursday that he is looking for 150 basis points of interest-rate cuts this year to boost the U.S. labor market. Miran told Bloomberg Television's Surveillance program that Fed officials had room to further reduce rates given his view that underlying inflation was likely running at 2.3%. "I'm looking for about a point and a half of cuts. A lot of that is driven by my view of inflation," Miran said. "Underlying inflation is running within noise of our target, and that's a good indication of where overall...
Gold price remains on the back foot after the Federal Reserve (Fed) kept interest rates unchanged. XAU/USD trades at $3,394, down over 1%, as traders brace for Fed Chair Jerome Powell's press conference. XAU/USD down over 1% to $3,394 as traders await Powell's press conference following cautious Fed toneThe Federal Reserve held rates at the 4.25%-4.50% range unanimously, as expected, and mentioned that uncertainty about the economic outlook has increased further, adding that the risks of higher unemployment and inflation have risen. Fed officials added that the economy remains expanding at...
The Federal Reserve (Fed) left its benchmark interest rate unchanged at 4.5%, in line with expectations, but struck a more cautious tone in its policy statement. While noting that the labor market remains solid and economic activity continues at a steady pace, the Fed acknowledged that inflation is still "somewhat elevated" and that both inflation and unemployment risks have risen. The Committee reaffirmed its commitment to data-dependence and reiterated that policy adjustments remain on the table should downside risks materialize. Balance sheet reduction will continue at the current...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades broadly flat on Wednesday at around 99.40 after printing a fresh five-day low on Tuesday and looks to be on pause for now. Traders are meanwhile assessing news about progress between China and the US regarding trade talks and brace for the Federal Reserve (Fed) interest-rate decision later this Wednesday. Not much is expected from this rate decision as markets almost fully price in that the Fed will keep rates stable despite pressure from US President Donald Trump to cut...
Gold prices fell more than 1% on Wednesday as hopes around trade talks between the United States and China weighed on the safe-haven metal ahead of a Federal Reserve rates decision later in the day. Spot gold was down 1.2% at $3,388.49 an ounce as of 1141 GMT, after a sharp rise in the previous session. "Late yesterday, reports emerged of a potential meeting between U.S. and Chinese officials this week, which could bolster sentiment if confirmed by Chinese and U.S. authorities," said Zain Vawda, analyst at MarketPulse by OANDA. U.S. Treasury Secretary Scott Bessent and chief trade...
Oil prices pared gains on Wednesday but rose for a second session, finding support from positive investor sentiment over U.S.-China trade talks to be held this weekend and signs of lower U.S. shale output. Brent crude futures climbed 34 cents a barrel, or around 0.6%, to $62.49 a barrel by 1220 GMT, while U.S. West Texas Intermediate crude was up 44 cents, or 0.7%, at $59.53 a barrel. The U.S. and China are due to meet in Switzerland, which could be the first step toward resolving a trade war disrupting the global economy. "It is clear that hopes are high with respect to trade talks,"...
Bank of Japan (BOJ) Governor Kazuo Ueda stated that achieving 2% inflation is getting closer, although real inflation remains low. Ueda emphasized that the BOJ will continue to raise interest rates...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...