Fed's Kashkari: Middle East inflation risks could warrant series of rate hikes
Minneapolis Fed President Neel Kashkari said that the central bank could begin “a series of” rate increases as inflation rises, sparked by the Middle East conflict, in comments to Nikkei as he visits Tokyo for two days to attend the Bank of Japan's annual conference.
He said that “the next rate change could be either a cut or a hike,” adding that it would depend on inflation’s behaviour. Kashkari added that a persistent closure of the Strait of Hormuz can affect long-term inflation expectations in households and businesses, which “could become unanchored.”
Consequently, the central bank would likely tighten policy. “Federal funds rate increases, potentially a series of them, could be warranted,” Kashkari said
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.12% | 0.41% | 0.25% | 0.09% | 0.05% | 0.62% | 0.37% | |
| EUR | -0.12% | 0.33% | 0.17% | 0.02% | -0.03% | 0.54% | 0.26% | |
| GBP | -0.41% | -0.33% | -0.15% | -0.33% | -0.35% | 0.20% | -0.05% | |
| JPY | -0.25% | -0.17% | 0.15% | -0.17% | -0.18% | 0.35% | 0.13% | |
| CAD | -0.09% | -0.02% | 0.33% | 0.17% | 0.00% | 0.54% | 0.30% | |
| AUD | -0.05% | 0.03% | 0.35% | 0.18% | -0.00% | 0.54% | 0.30% | |
| NZD | -0.62% | -0.54% | -0.20% | -0.35% | -0.54% | -0.54% | -0.24% | |
| CHF | -0.37% | -0.26% | 0.05% | -0.13% | -0.30% | -0.30% | 0.24% |
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).
Nothing in this material constitutes investment advice, personal recommendation, investment research, an offer, or a solicitation to buy or sell any financial instrument. The content has been prepared without consideration of your individual investment objectives, financial situation, or needs, and should not be treated as such.
Past performance is not a reliable indicator of future performance and/or results. Forward-looking scenarios or forecasts are not a guarantee of future performance. Actual results may differ materially from those anticipated.
Mitrade makes no representation or warranty as to the accuracy or completeness of the information provided and accepts no liability for any loss arising from reliance on such information.
Recommended Articles
