“Inflation pressures are weighing on the economy”: Fed’s Paulson claims
Anna Paulson, President of the Federal Reserve (Fed) Bank of Philadelphia, said inflation is a drag on the United States (US) economy while discussing the economic outlook and regional trends at an event hosted by the Chamber of Commerce of Southern New Jersey on Friday.
Key takeaways:
Inflation pressures are weighing on the economy.
Firms are having a hard time planning for the future.
Monetary policy is appropriately positioned at mildly restrictive levels.
Inflation is too high and was too high even before the war started.
The US economy remains on track to continue modest growth.
Consumers are still spending, but at a slower pace.
Households and firms are cautious about the outlook amid elevated uncertainty.
The Unemployment Rate remains around levels consistent with full employment.”
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 Canadian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.00% | 0.02% | 0.03% | 0.18% | -0.28% | -0.85% | -0.35% | |
| EUR | -0.00% | 0.01% | 0.04% | 0.18% | -0.28% | -0.83% | -0.35% | |
| GBP | -0.02% | -0.01% | 0.02% | 0.16% | -0.29% | -0.84% | -0.36% | |
| JPY | -0.03% | -0.04% | -0.02% | 0.16% | -0.31% | -0.89% | -0.39% | |
| CAD | -0.18% | -0.18% | -0.16% | -0.16% | -0.47% | -1.01% | -0.53% | |
| AUD | 0.28% | 0.28% | 0.29% | 0.31% | 0.47% | -0.55% | -0.09% | |
| NZD | 0.85% | 0.83% | 0.84% | 0.89% | 1.01% | 0.55% | 0.49% | |
| CHF | 0.35% | 0.35% | 0.36% | 0.39% | 0.53% | 0.09% | -0.49% |
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.
