Fed's Kashkari grows bullish on labor

Joshua Gibson FXStreet

Federal Reserve (Fed) Bank of Minneapolis President Neel Kashkari struck a more reserved tone than some of his Fed counterparts on Tuesday, cautioning that it's still too soon to be able to tell if tariff-led inflation will be "sticky" or not. However, Kashkari noted that he's particularly bullish on the labor market, and is expecting a return to form for American job creation which has sputtered recently.

Key highlights

Too soon to know if inflation will be sticky from tariffs.
Skeptical that a lot of workers are being replaced by AI now.
Bullish on labor, workers have a very important role in the economy.
Hearing lots of grand declarations of AI replacing workers, but not seeing the evidence yet.
Nature of jobs will change as we use AI tools.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

GBP/USD retreats below 1.3350; Fed Minutes in focus

GBP/USD struggles to find its footing and trades in negative territory below 1.3350, pressured by the renewed USD strength. US President Donald Trump said on the MoU signed with Iran to end the conflict was "over", causing safe-haven flows to dominate the action in financial markets. Later in the American session, the Fed will publish the minutes of the June policy meeting.

EUR/USD tests 1.1400 as USD gathers strength on Trump comments

EUR/USD comes under bearish pressure on Wednesday and declines toward 1.1400. US President Trump said the MoU signed with Iran to end the conflict was "over" and added that the didn't want to engage with Tehran anymore, triggering a flight-to-safety and boosting the USD.

Gold drops below $4,100 as Middle East tensions escalate

Gold turns south on Wednesday and trades deep in negative territory near $4,050 on Wednesday. Investors adopt a cautious stance and help the USD gather strength after US President Trump said at the NATO summit that the MoU signed with Iran to end the conflict was "over" and added he didn't want to engage with Tehran.

Pi Network crashes to a record low amid broader market stress

Pi Network (PI) price edges toward $0.1000 extending losses for the fifth straight day. Retail sentiment remains bearish as Open Interest and the funding rate decline. The technical outlook for PI is bearish as selling pressure mounts, despite oversold conditions.

WTI surges above $74 as Trump confirms MoU with Iran is over

West Texas Intermediate (WTI) soars 3.2% to near $74.30 during the European trading session, the highest level seen in two weeks. The oil price surges as the confirmation, from the US President Donald Trump that the MoU with Iran is over, has revived risks of global energy supply disruption.

Bye, forward guidance: How to trade when central banks choose silence

Central banks have spent years telling markets what might come next. Now, traders face the possibility that they say a lot less. From the Federal Reserve to the European Central Bank and the Bank of England, policymakers are pushing back against forward guidance.