Fed's Barkin: Prudent to keep rates on hold as AI and geopolitical risks cloud outlook
|Federal Reserve (Fed) Richmond President Thomas Barkin said on Friday that it is prudent to keep interest rates steady for now, as policymakers await greater clarity on the economic outlook. His remarks highlighted rising uncertainty from geopolitical tensions, evolving inflation risks and rapid changes driven by artificial intelligence.
Additional quotes:
"pace and uncertainty of changes around ai have made a lot of fed officials 'uneasy'
war, fast changes due to artificial intelligence have again clouded economic outlook
even before oil shock, progress on inflation was at risk of stalling
higher gasoline prices hit consumer sentiment, can crowd out other spending
says he will be watching inflation and expectations data carefully
demand has been steady but continues to feel 'narrow,' based on ai investment and wealthier households
unemployment rate is low, but labor market feels 'fragile;' firms see little wage pressure, multiple applicants for each job"
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Swiss Franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.05% | 0.11% | 0.03% | 0.09% | -0.04% | 0.03% | 0.24% | |
| EUR | 0.05% | 0.16% | 0.09% | 0.14% | 0.00% | 0.09% | 0.29% | |
| GBP | -0.11% | -0.16% | -0.06% | -0.02% | -0.16% | -0.08% | 0.13% | |
| JPY | -0.03% | -0.09% | 0.06% | 0.07% | -0.08% | -0.01% | 0.22% | |
| CAD | -0.09% | -0.14% | 0.02% | -0.07% | -0.14% | -0.05% | 0.15% | |
| AUD | 0.04% | -0.01% | 0.16% | 0.08% | 0.14% | 0.08% | 0.28% | |
| NZD | -0.03% | -0.09% | 0.08% | 0.00% | 0.05% | -0.08% | 0.21% | |
| CHF | -0.24% | -0.29% | -0.13% | -0.22% | -0.15% | -0.28% | -0.21% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.