Fed Cook: Warns rate hike possible as inflation worsens
Fed Governor Lisa Cook crossed the wires, saying the right course of action is to keep rates steady due to upside risks to inflation, which is moving in the “wrong direction.”
Cooks seems open to moving in either direction, noting that if the disinflation process doesn’t resume, she is ready to raise rates. Conversely, added that she would be prepared to cut “if the labor market deteriorates.”
Key highlights:
RIGHT COURSE OF ACTION IS TO HOLD RATES STEADY
RISKS ARE TILTED TOWARD HIGHER INFLATION; INFLATION CLEARLY MOVING IN WRONG DIRECTION
PREPARED TO RAISE RATES IF EXPECTED DISINFLATION DOESN'T APPEAR IN A TIMELY MANNER
WOULD BE PREPARED TO CUT RATES IF LABOR MARKET DETERIORATES
EVEN TEMPORARY SHOCKS COULD PUSH UP INFLATION IN MEDIUM TERM
SHOCKS PUSHING UP INFLATION SHOULD IN THEORY BE TEMPORARY
AI JOB LOSS COULD PRECEDE AI JOB GAINS
OPTIMISTIC ON ECONOMIC GROWTH, EXPECT AI TO BOOST PRODUCTIVITY
LABOR MARKET 'LARGELY STABLE' BUT DOWNSIDE RISKS ARE ELEVATED
AI MAY ENHANCE FINANCIAL STABILITY, IMPLICATIONS OF AI FOR CYBERSECURITY UNCLEAR
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 Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.02% | 0.11% | 0.16% | 0.16% | 0.37% | -1.14% | 0.14% | |
| EUR | -0.02% | 0.10% | 0.13% | 0.16% | 0.31% | -1.16% | 0.12% | |
| GBP | -0.11% | -0.10% | 0.02% | 0.05% | 0.24% | -1.24% | 0.04% | |
| JPY | -0.16% | -0.13% | -0.02% | 0.02% | 0.20% | -1.24% | 0.00% | |
| CAD | -0.16% | -0.16% | -0.05% | -0.02% | 0.19% | -1.25% | -0.01% | |
| AUD | -0.37% | -0.31% | -0.24% | -0.20% | -0.19% | -1.46% | -0.17% | |
| NZD | 1.14% | 1.16% | 1.24% | 1.24% | 1.25% | 1.46% | 1.29% | |
| CHF | -0.14% | -0.12% | -0.04% | -0.01% | 0.00% | 0.17% | -1.29% |
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).
Author
Christian Borjon Valencia
FXStreet
Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.
