Fed’s Daly: Could leave rates where they are
Mary Daly, President of the Federal Reserve (Fed) Bank of San Francisco, spoke at the University of California-Berkeley's Fisher Center on Friday. She indicated that, at this point, she is observing whether higher oil prices are affecting the prices of other goods and services.
Key takeaways:
Before Oil price shock, felt one or two cuts in 2026 would be needed.
At this point, looking to see if higher Oil prices spill into other goods and services prices.
In wait and see mode, nice place to be.
Could leave rates where they are.
If inflation took off would need to raise rates; if conflict ends quickly could cut.
Currently compensating low labor force growth with higher productivity growth.
Zero job growth could be the new steady state.
Heading toward zero labor force growth owing to demographics.
Outlook depends upon duration of rise in oil prices and persistence of conflict.
Consumers nervous about the economy but spending.
Businesses cautiously optimistic.
There is plenty of room to increase labor force participation.
Absence of immigration really matters as well as investment in tech.”
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 Euro.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.06% | -0.12% | -0.60% | -0.20% | -0.26% | -0.16% | -0.43% | |
| EUR | 0.06% | -0.07% | -0.54% | -0.15% | -0.21% | -0.10% | -0.39% | |
| GBP | 0.12% | 0.07% | -0.49% | -0.08% | -0.13% | -0.03% | -0.30% | |
| JPY | 0.60% | 0.54% | 0.49% | 0.41% | 0.35% | 0.44% | 0.17% | |
| CAD | 0.20% | 0.15% | 0.08% | -0.41% | -0.06% | 0.03% | -0.23% | |
| AUD | 0.26% | 0.21% | 0.13% | -0.35% | 0.06% | 0.10% | -0.17% | |
| NZD | 0.16% | 0.10% | 0.03% | -0.44% | -0.03% | -0.10% | -0.28% | |
| CHF | 0.43% | 0.39% | 0.30% | -0.17% | 0.23% | 0.17% | 0.28% |
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
Agustin Wazne
FXStreet
Agustin Wazne joined FXStreet as a Junior News Editor, focusing on Commodities and covering Majors.
