The United States is weathering the pandemic and beginning to make progress toward full employment and 2% inflation, Federal Reserve Bank of Dallas President Robert Kaplan said on Thursday, repeating his call for the U.S. central bank to debate how and when to start reducing.
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The pan-European STOXX 600 index rose 0.1 per cent, holding just below its all-time high hit in the previous session.
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Oil and gas stocks rose 1.1 per cent to lead sectoral gains in Europe as crude prices extended gains after OPEC and its allies stuck to their plan to cautiously bring back supply to the markets in June and July.
European stocks inched toward record levels on Wednesday, helped by energy and consumer stocks, while strong economic data from U.S. and Europe buoyed investor sentiment. The pan-European STOXX 600 index rose 0.1 per cent, holding just below its all-time high hit in the previous session.
Minneapolis Federal Reserve Bank President Neel Kashkari on Monday said that he expects inflation to recede as COVID-19 cases decline, schools reopen and special pandemic unemployment benefits expire, allowing more people, especially women, to return to the workforce.
The Archegos saga is particularly relevant in the wake of the caution issued by the RBI over the meteoric rise in Indian stock market amid GDP contraction and its stark warning of a bubble fueled mainly by rising money supply and foreign portfolio investor (FPI) investments.
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WASHINGTON (Reuters) -The United States is getting closer to the Fed’s maximum employment and 2% inflation goals, Fed Governor Lael Brainard said on Tuesday, but the depth of the remaining problem still requires the central bank to stick to its super-easy monetary policy until more progress is seen.
FILE PHOTO: Federal Reserve Board Governor Lael Brainard speaks at the John F. Kennedy School of Government at Harvard University in Cambridge, Massachusetts, U.S., March 1, 2017. REUTERS/Brian Snyder
“While we are far from our goals today, we are seeing welcome progress, and I expect to see further progress,” Brainard told the Economic Club of New York. But “jobs are down by between 8 and 10 million compared with the level we would have seen in the absence of the pandemic. And it will be important to see sustained progress on inflation,” not just a temporary jump.