The Personal Consumption Expenditures (PCE) Index, which is the Federal Reserve’s preferred gauge of inflation, advanced 3.7% in June on an annualized basis.The Commerce Department data showed that core PCE, which excludes food and energy, rose 3.3% on an annualized basis in June, up 0.1% on a mont…
Federal Reserve Chair Kevin Warsh on Tuesday said that it’s no secret that he was critical of the central bank’s framework announced in 2020.During his congressional testimony, Warsh called the framework a mistake and added that it did not succeed in its objective.“That central bank wasn’t the firs…
Federal Reserve Governor Christopher Waller said on Monday that another hotter-than-expected core inflation reading could prompt policymakers to consider tightening monetary policy.Waller’s comments come a day ahead of the Consumer Price Index (CPI) print for June, which is scheduled to be released…
Federal Reserve Chair Kevin Warsh on Wednesday downplayed concerns that artificial intelligence will lead to job losses, saying he is not an AI doomer or pessimist.During an interview at the ECB Forum on Central Banking in Sintra, Portugal, Warsh said he believes the number of jobs created by AI wi…
Federal Reserve Bank of Cleveland President Beth Hammack said Tuesday that interest rates may need to be raised to bring inflation back under control.During an interview with CNBC, Hammack said that inflation has been elevated for the past five years. “We’ve got inflation that’s too high, and it’s…
The Japanese yen slid to its weakest level against the U.S. dollar since December 1986 on Monday, extending a yearslong decline that is renewing focus on currency intervention risks and the global yen carry trade.The currency briefly weakened beyond 161.95 per dollar, eclipsing the level that promp…
