(Bloomberg) Federal Reserve Bank of Philadelphia President Patrick Harker said disinflation is under way and reiterated that he favors holding interest rates where they are, barring a sharp change in data. Most Read from BloombergTop House Republican Wants Help From Democrats to Pick a SpeakerIsrael Latest: Rallies Grow as Army Calls for Evacuation in GazaIsrael Latest: UN Staff Given Evacuation Order for Northern GazaVideo Game Cyberpunk 2077 Uses AI To Replace Deceased Voice ActorJeff Bezos
USD/CAD on course to snap a four-day losing streak ahead of US inflation data. Will US Inflation provide fresh impetus for the DXY with another increase or is a drop on the cards?
Trading was choppy on Wednesday with all the indexes starting off the session with gains before turning lower ahead of the minutes and then regaining lost ground to push higher.
Federal Reserve officials regarded the U.S. economy’s outlook as particularly uncertain last month, according to minutes released Wednesday, and said they would “proceed carefully” in deciding whether to further raise their benchmark interest rate. Such cautious views are generally seen as evidence that the Fed isn't necessarily inclined to raise rates in the near future. Economic data from the past several months “generally suggested that inflation was slowing,” the minutes of the Sept. 19-20 meeting said.
(Bloomberg) Federal Reserve Bank of Atlanta President Raphael Bostic reiterated that he doesn’t think policymakers need to raise interest rates any further and that policy is restrictive enough to bring inflation back to their 2% goal.Most Read from BloombergIsrael Latest: Top US General Warns Iran to Stay Out of ConflictHamas Got Around Israel’s Surveillance Prowess by Going DarkSchumer Confronts Xi on Israel-Hamas Stance in Rare MeetingIsrael Latest: Army Prepares as Israeli Death Toll Pass