Page 3 - June Summary News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The FOMC's interest rate hike by 75 basis points to fight inflation became a fact. What do the Fed's hawkish actions and plans mean for the gold market?

<p><span>I want to thank the organizers for inviting me to speak here today. The discussion has focused on the following question: "How did the Fed get so far behind the curve?" My response is to relate how my view of the economy changed over the course of 2021 and how that evolving view shaped my policy position. When thinking about this question, there are three points that need to be considered. First, the Fed was not alone in underestimating the strength of inflation that revealed itself in late 2021. Second, to determine whether the Fed was behind the curve, one must...

On Friday, Goldman Sachs upped its forecasts for the euro against the greenback to suggest more appreciation in the near term. It raised its three-month target to $1.25 from $1.21, while holding its 12-month forecast at $1.28. Analysts, led by Co-head of Global FX, Rates and EM Strategy Zach Pandl, also issued a new long trade recommendation for the euro with a $1.25 target price and a stop of $1.175, meaning Goldman will abandon the trade if it the euro sinks below that level. The common currency was changing hands at $1.2032 on Monday. "Market expectations for European growth should improve...