Fed’s Schmid: Inflation is too hot
Federal Reserve (Fed) Bank of Kansas City President Jeffrey Schmid said that he prefers to keep the monetary policy modestly restrictive, as cutting rates could worsen the inflation situation at the Economic Club of Kansas City on Thursday.
Key takeaways
Inflation is too hot.
Prefer to keep monetary policy modestly restrictive.
Cutting rates could worsen inflation without helping employment much.
Inflation a top concern among business contacts.
December CPI consistent with close-to-3% inflation.
Monetary policy is currently not very restrictive, economy shows momentum.
Labor market stresses are structural, rate-cutting won't patch them over.
Tax policy, deregulation likely to boost investment, spending, demand.
No room to be complacent on inflation.”
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 British Pound.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.26% | 0.35% | -0.05% | 0.08% | -0.30% | 0.05% | 0.34% | |
| EUR | -0.26% | 0.09% | -0.31% | -0.19% | -0.56% | -0.21% | 0.07% | |
| GBP | -0.35% | -0.09% | -0.40% | -0.28% | -0.65% | -0.30% | -0.02% | |
| JPY | 0.05% | 0.31% | 0.40% | 0.11% | -0.25% | 0.07% | 0.38% | |
| CAD | -0.08% | 0.19% | 0.28% | -0.11% | -0.36% | -0.03% | 0.27% | |
| AUD | 0.30% | 0.56% | 0.65% | 0.25% | 0.36% | 0.36% | 0.64% | |
| NZD | -0.05% | 0.21% | 0.30% | -0.07% | 0.03% | -0.36% | 0.28% | |
| CHF | -0.34% | -0.07% | 0.02% | -0.38% | -0.27% | -0.64% | -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.
