In an interview with CNBC on Friday, Cleveland Federal President Loretta Mester said that it is important not to wait too long to cut interest rates, per Reuters.
Key takeaways
"Latest inflation data has been welcome news."
"We are starting to see inflation move down again after stalling."
"We need to see inflation fall more from current levels."
"It is clear monetary policy is affecting economy."
"Neutral interest rate moves around all the time."
"Want to see a few more months of ebbing inflation data."
"We are in a good position with monetary policy."
The labor market is still very strong."
"FOMC is doing good work understanding, forecasting economy."
"Politics does not come into FOMC debates."
Market reaction
The US Dollar preserves its strength following these comments. At the time of press, the USD Index was up 0.35% on the day at 105.60.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
GBP/USD falls hard toward 1.3150 on Bailey's dovish remarks
GBP/USD extends its sell-off toward 1.3150 in the early European session on Thursday. The pair faces fresh supply after BoE Governor Andrew Bailey said that the central bank could become 'more activist' on rate cuts if inflation eases. Mideast concerns-led risk aversion also weighs on the pair.
EUR/USD flirts with three-week lows, nears 1.1000 on USD strength
EUR/USD is dropping toward 1.1000 in the European morning on Thursday, testing three-week lows. Sustained US Dollar strength, on fading outsized Fed rate cut bets and Middle East escalation, weighs on the pair. Meanwhile, increased bets for a 50 bps Oct ECB rate cut undermine the Euro.
Gold looks to more US data for a fresh directional impetus
Gold price is trading listlessly in a narrow range under the key $2,670 static resistance, lacking a clear directional impetus so far this Thursday. The focus now shifts toward a fresh batch of US economic statistics and speeches from Federal Reserve policymakers for fresh directives amid the escalating geopolitical conflict between Israel and Iran.
Internet Computer price poised for a rally if the key support level holds
Internet Computer is trading slightly higher on Thursday and is approaching its critical support level, indicating that a recovery could be on the cards if it holds. ICP’s long-to-short ratio trades above one suggest that more traders anticipate a rally in the asset price in the coming days.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.