The dollar is falling along with rates in the break of the press conference. Janete the fact that yellen talked about strength in the domestic economy that concern in the Global Economy that seem to be one of the takeaways from today. Remember that the dollar has 16n the best performer vs. Developed nations, its peers, over the past year. Vs. A basket of currencies and the gyrations through the end of the day. Finishing down by about 1 . Remember also that yellen reiterated we are going to see a gradual trajectory when rates begin to go up and another reminder that again the trajectory here is that rates will eventually go up probably nationshan we see other raise rates, for example. Some strategists are saying for the longer term that the dollar could be good bet. One of the assets were we saw it pop today, gold prices. 1 from a dramatic increase when we got no increase in rates. As yellen emphasized, uncertainty is still sticking around here, so if you are looking for a haven, that i
Mike konczal joint is, he is a director of macroeconomic analysis at the Roosevelt Institute with us this morning to talk about inflation, the Biden Administration and the u. S. Economy. First of all tell us about the Roosevelt Institute and you work there, what is its mission and how is your group fund transferred were a nonprofitit part of the Franklin Delano roosevelt did the library. We do many things including events at the library to were also a think tank that is dedicated to carry on the legacy of franklin and eleanor roosevelt. Refunded through a series of trust that were set up and agreeance towards various projects that we do. My project which ads lead is abt macroeconomic recovery look at inflation unemployment and have his recovery has been going since covid. We will begin with inflation. Before you came on the program, the Consumer Price index was announced, a jump again in june and the New York Times says inflation hit a four decade high in june. Prices climbing 9. 1 . W
WASHINGTON — The nation’s economy grew at an unexpectedly brisk 3.3% annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and price levels that have frustrated many households. Thursday’s report from the Commerce Department said the gross domestic product —
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