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Fed's Mester: Inflation Will Not Fall to 2 Percent Target for 2 Years
Abstract：Fed's Mester says it will take 2 years until inflation falls to 2% target
Cleveland Federal Reserve Bank President Loretta Mester said it will take two years for inflation to come down to the central bank's 2% target.
“It isn't going to be immediate that we see 2% inflation. It will take a couple of years but it will be moving down,” Mester said in an interview with CBS News on Sunday. For more forex news, please download WikiFX - the Global Dealer Regulatory Inquiry APP.
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How Inflation Rates Affect Forex Prices Globally
In this article, we’ll explore how inflation affects forex prices globally, the relationship between inflation and currency value, and why traders monitor inflation closely.
FED meeting minutes strongly hint at a rate cut in September; US dollar index falls to new low this year!
The U.S. Bureau of Labor Statistics revised down the employment growth in the year ending in March by 818,000, an average monthly decrease of about 68,000, the largest downward revision since 2009. The substantial downward revision of employment data re-emphasized the severity and necessity of the U.S. employment problem, paving the way for a rate hike in September. Bearish for the U.S. dollar.
PH Financial Sector Grows to P32.3T, Up 10.5% in June
The Philippine financial sector expanded by 10.5% in June, reaching P32.3 trillion. Bank resources surged, while positive earnings drove stock market gains.
US Inflation Cools, But Economic Pressures Still Remain
Inflation shows signs of cooling in the U.S., but persistent economic pressures, particularly housing and utilities, continue to challenge growth.
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