Fed's Miran: ADP data was a welcome surprise

Agustin Wazne FXStreet

Federal Reserve (Fed) Governor Stephen Miran said that the ADP report released on Wednesday, which showed an increase in US companies' employment in October, was a "welcome surprise." In an interview with Yahoo Finance, Miran also commented on the outlook for monetary policy.

Key quotes

ADP data was a welcome surprise.

Job market trends pre-government shutdown appear still in place.

Job market data indicates interest rates could be lower than current levels.

The supply and demand side of the economy both matter.

Sees additional investment demand over time.

Increasing uncertainty about tariffs could create economic drag.

If tariff income went away, it would bear on Fed policy.

Views on economy and monetary policy are not that far from other officials.

Is more sanguine on inflation outlook relative to other Fed officials.

Fed policy is still too restrictive; current policy has risks.

Barring new information, it would be reasonable to cut interest rates in December.

Shelter disinflation is a reason to expect overall inflation easing. "

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 Japanese Yen.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.00%	-0.17%	0.39%	0.21%	-0.19%	-0.09%	0.04%
EUR	0.00%		-0.18%	0.35%	0.21%	-0.18%	-0.07%	0.05%
GBP	0.17%	0.18%		0.54%	0.37%	-0.03%	0.08%	0.21%
JPY	-0.39%	-0.35%	-0.54%		-0.18%	-0.58%	-0.49%	-0.35%
CAD	-0.21%	-0.21%	-0.37%	0.18%		-0.40%	-0.30%	-0.16%
AUD	0.19%	0.18%	0.03%	0.58%	0.40%		0.10%	0.23%
NZD	0.09%	0.07%	-0.08%	0.49%	0.30%	-0.10%		0.13%
CHF	-0.04%	-0.05%	-0.21%	0.35%	0.16%	-0.23%	-0.13%

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.

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