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Federal Reserve (Fed) Chairman Jerome Powell and European Central Bank (ECB) President Christine Lagarde discuss monetary policy outlook at the ECB Forum on Central Banking in Sintra. Fed Chairman Powell comments at ECB Forum “The labor market is still strong.” “The disinflation trend shows signs of resuming.” “Made quite a bit of progress on inflation.” “We are getting back on disinflationary path.” “We need to be more confident before reducing policy rates.” “We need to see more data like we’ve been seeing recently.” “Data represents significant progress.” “If the labor market unexpectedly weakens, that would also cause us to react.” “We have the ability to take our time and get this right.” “Well aware of risk of going too soon and too late.” “Risks becoming much more balanced.” “Services inflation is usually stickier.” “Wage increases are moving back down towards more sustainable levels.” “Wage increases are still above where they will wind up in equilibrium.” “The labor market is cooling off.” “Inflation may get back to 2% late next year or the following year.” ECB President Christine Lagarde comments “We are very advanced in the disinflationary path.” “Inflation is heading in the right direction.” “We are very attentive to inflation components and services.” “We don’t need to have services inflation at 2%.” US Dollar PRICE Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the British Pound.   USD EUR GBP JPY CAD AUD NZD CHF USD   -0.01% -0.25% -0.05% -0.23% -0.10% -0.00% 0.15% EUR 0.01%   -0.24% -0.03% -0.22% -0.09% -0.01% 0.18% GBP 0.25% 0.24%   0.20% 0.03% 0.13% 0.24% 0.39% JPY 0.05% 0.03% -0.20%   -0.19% -0.03% 0.03% 0.19% CAD 0.23% 0.22% -0.03% 0.19%   0.14% 0.23% 0.37% AUD 0.10% 0.09% -0.13% 0.03% -0.14%…

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Filed under: News - @ July 2, 2024 7:18 pm