Author: FX
Share: Federal Reserve Bank of New York President John Williams has crossed the wires with a hawkish tone. He said on Tuesday that inflation remains too high and central bank action aimed at cooling price pressures will exact some unavoidable pain on the economy. Reuters reported as follows: Over the last year the Fed “has taken strong actions to bring inflation down,” Williams said in a speech prepared for delivery before a bankers’ group in New York. But, “although we have seen some moderation in recent months, the inflation rate remains far too high at 5%,” and underlying…
BLDE, WCC and TOPS among industrial movers Source link
© Reuters. FILE PHOTO: Former U.S. Vice President Mike Pence is interviewed by Kevin Roberts, president of the Heritage Foundation, in front of an audience at the Heritage Foundation in Washington, U.S., October 19, 2022. REUTERS/Leah Millis/File Photo By Sarah N. Lynch and Susan Heavey (Reuters) -Republican former U.S. Vice President Mike Pence is preparing to resist a grand jury subpoena for testimony about efforts to overturn then-President Donald Trump’s 2020 reelection loss, a source familiar with his plans said on Tuesday. Pence will argue that his role as president of the Senate – making him a member of the…
> WSJ Timiraos: CPI keeps the Fed on track to continue rate increases Fed watcher Timiraos weighs in ADVERTISEMENT – CONTINUE READING BELOW Tags ADVERTISEMENT – CONTINUE READING BELOW Most Popular ADVERTISEMENT – CONTINUE READING BELOW ADVERTISEMENT – CONTINUE READING BELOW Source link
US DOLLAR FORECAST:U.S. dollar inches modestly higher after U.S. consumer price index data tops estimatesJanuary headline inflation clocks in at 6.4% y-o-y, core CPI at 5.6% y-o-yThis article looks at EUR/USD and USD/JPY ‘s key technical levels to monitor in the near term Recommended by Diego Colman Get Your Free USD Forecast Most Read: Which Way for S&P 500 and Nasdaq 100 Index After US CPI Data?The U.S. dollar, as measured by the DXY Index, exhibited volatility after U.S. inflation data crossed the wires, seeking direction as bulls and bears engaged in a hard-fought tug of war. While the greenback…
Share: “We must remain prepared to continue rate increases for a longer period than previously anticipated, if such a path is necessary to respond to changes in the economic outlook or to offset any undesired easing in conditions,” Dallas Federal Reserve President Lorie Logan said on Tuesday, as reported by Reuters. Additional takeaways “Even after pausing rate hikes, need to stay flexible, tighten further if conditions call for it.” “Need continued gradual rate hikes until see convincing evidence inflation falling to 2% in sustainable, timely way.” “Tightening policy too little is top risk.” “Tightening too much or too fast…
Keros Therapeutics a buy at Cowen on candidates for PAH, myelofibrosis Source link
US Equity Futures Latest: Nasdaq, S&P Linger After as Inflation Remains Elevated Recommended by Tammy Da Costa Futures for Beginners US CPI Rattles Markets as Investors Await Fed SpeakUS CPI data was the focus of today’s economic calendar, setting the tone for stock indices. With January’s inflation print coming in hotter than expected, rate expectations lifted stocks before forcing risk assets lower.With Core CPI (excluding food and energy) coming in at 5.6%, the annual inflation beat forecasts of 6.2%, rising to 6.4% last month. While the Nasdaq 100 index rose sharply upon release of the data, S$P 500 and Dow…
US headline CPI climbed 0.5% in January, with the core up 0.4%, both exactly as expected. Those follow respective gains of 0.1% and 0.4% in December. For the Headline, the January print ties October for the highest since June. The 12-month pace slipped to 6.4% y/y from 6.5% y/y. It has decelerated for seven straight months from 9.1% in June. The Core rate slid to 5.6% y/y from 5.7% y/y, a fourth consecutive month of slowing. Component gains were broadbased. Energy prices bounced 2.0% from -3.1% (was -4.5%) Gasoline prices increased 2.4% from -7.0% (was -9.4%). Services costs edged up 0.6%…
© Reuters. FILE PHOTO: A logo of Thyssenkrupp AG is pictured at the company’s headquarters in Essen, Germany, November 21, 2018. REUTERS/Thilo Schmuelgen/File Photo/File Photo By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) – Thyssenkrupp (ETR:)’s restructuring was progressing at a slow pace, its finance chief said, as the company grapples with delayed spin off and listing of two of its units, as well as negative cash flow, sending its shares down nearly 10%. “Of course, free cash flow is an issue, and speed of implementation is also an issue,” Klaus Keysberg said on Tuesday after the company’s first-quarter results…