Powell supports policy tightening, expects improvement in wages growth

2018-04-06 19:50:26 GMT (Economies.com)
Powell supports policy tightening, expects improvement in wages growth

Federal Reserve Governor Jerome Powell said in a speech about the economic outlook at the Economic Club of Chicago that inflation and labor forecasts underpin policy tightening and gradual hikes in interest rates, while noting that modest growth in wages indicate the labor market is not too tight. 

 

As of 05:56 GMT, the dollar index, tracking the greenback against a basket of major rivals, fell 0.33% to 90.16 from the opening of 90.46, with a session-low at 90.14, and early March highs at 90.60. 

 

Powell said during his first speech since assuming the Fed Governor job in February that policymakers will continue to target two-percent inflation and sustained economic growth with strong labor market. 

 

Powell discussed labor and inflation trends in the US in detailed matters, however he didn't talk about foreign trade or chances of a trade war between the US and China. 

 
 
 
  Symbol Last Change Chg.%
1.1690
0.0059
0.5094%
1.3191
0.0121
0.9243%
14.186
0.119
0.846%
71.020
2.033
2.946%
79.46
0.06
0.08%
1201.445
7.670
0.642%
 
 
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