EUR/USD
1.15914
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Gold
4493.85
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Oil
96.720
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USD/JPY
159.159
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Real-time News
On May 22, Federal Reserve Governor Jerome Waller stated on Friday that given the growing risks of inflation, the Fed should no longer consider further interest rate cuts as a default plan. This comes after Wallers support for rate cuts in January. In a speech, Waller said that with the ongoing conflict in the Middle East, rising costs of oil and other commodities are increasingly likely to trigger broader and more persistent inflation in the economy. He stated that it is time for the Fed to stop signaling that its next move is most likely another rate cut. Waller indicated that maintaining interest rates in the current range of 3.5% to 3.75% is likely the right approach for the foreseeable future. He added, "If inflation does not subside quickly, I cannot rule out the possibility of future rate hikes."Federal Reserve Governor Waller: No changes to policy rates should be expected in the near term; the outcome will heavily depend on the duration of the conflict in Iran. Inflation faces the risk of becoming more persistent, and price pressures are increasing.Federal Reserve Governor Waller: The current stance is to keep interest rates stable in the near term.Federal Reserve Governor Waller: If inflation expectations lose their anchor, interest rates will need to be raised.The US April Conference Board Leading Economic Index monthly rate, the final May University of Michigan Consumer Sentiment Index, and the final one-year inflation expectations will be released in ten minutes; Federal Reserve Governor Waller will also speak in ten minutes.
