White House’s Brainard: Fed rate cut sent a clear signal that inflation has come back down
White House National Economic Council Director Lael Brainard said on Thursday that the Federal Reserve’s (Fed) decision on Wednesday to cut rates for the first time in four years sent a "clear signal that inflation has come back down.”
Further comments
Inflation was now at the same level seen in the month before the pandemic began.
The cut in interest rates would also save the average new car buyer nearly $1,100 over the life of their loan.
Further work was needed to drive down housing costs, support childcare needs and sustain the gains achieved for working class families.
Meanwhile, another official said that “the White House is monitoring geopolitical risks, including escalating tensions in the Middle East, but sees no significant risks to the broader economic outlook.”
US Dollar PRICE Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.49% | -0.52% | 0.33% | -0.52% | -1.05% | -0.92% | -0.08% | |
| EUR | 0.49% | -0.04% | 0.83% | -0.02% | -0.55% | -0.43% | 0.41% | |
| GBP | 0.52% | 0.04% | 0.87% | 0.01% | -0.53% | -0.39% | 0.44% | |
| JPY | -0.33% | -0.83% | -0.87% | -0.83% | -1.38% | -1.29% | -0.43% | |
| CAD | 0.52% | 0.02% | -0.01% | 0.83% | -0.54% | -0.43% | 0.42% | |
| AUD | 1.05% | 0.55% | 0.53% | 1.38% | 0.54% | 0.13% | 0.96% | |
| NZD | 0.92% | 0.43% | 0.39% | 1.29% | 0.43% | -0.13% | 0.85% | |
| CHF | 0.08% | -0.41% | -0.44% | 0.43% | -0.42% | -0.96% | -0.85% |
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
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
