Page 41 - Us Fed News Today

The economy grew at a 2.4% annualized pace in the second quarter, a surprisingly robust reading that prompted many economists to boost forecasts for the third quarter and reconsider odds of a recession.

Jerome Powell noted that the economy has been growing faster than expected and that consumers have kept spending briskly - trends that could keep inflation pressures high

Expectations for Jerome Powells speech at Jackson Hole may be too optimistic, as a hawkish surprise from the Fed could unsettle the market.

Jerome Powell noted that the economy has been growing faster than expected and that consumers have kept spending briskly – trends that could keep inflation pressures high

KUALA LUMPUR: The ringgit opened higher against the US dollar this morning on weaker manufacturing purchasing managers index (PMI) flash estimates for advanced economies, said an analyst. 

The great focus on deflation is the major reason why we live in a boom-and-bust world. Booms lead to busts and then central bankers go all out to avoid deflation

KUALA LUMPUR: The ringgit opened lower against the US dollar this morning as market participants awaited more signals from the US Federal Reserve (Fed) ahead of the Jackson Hole Symposium, said an analyst. 

Asian currencies were trading mixed ahead of federal reserve chair Jerome Powells speech at Jackson Hole on Friday.

Bullion has stumbled in recent weeks in the face of multiple headwinds from surging real yields to a stronger US dollar and the prospect of US rates staying higher for longer. The survey of investors — from sovereign wealth managers to hedge funds — offered some modest optimism for price prospects into 2024.

KUALA LUMPUR: The ringgit ended lower against the US dollar on economic uncertainties, said an analyst.