Federal Reserve Bank of Kansas City President Jeffrey Schmid said he prefers to maintain a moderately tight monetary policy because rate cuts could worsen the inflation situation at the Economic Club of Kansas City on Thursday.
Key conclusions
Inflation is too sizzling.
I prefer to maintain a moderately restrictive monetary policy.
Rate cuts could worsen inflation without doing much to aid employment.
Inflation is the main problem among business contacts.
December CPI consistent with inflation close to 3%.
Monetary policy is currently not too restrictive and the economy is lively.
Tensions in the labor market are structural and rate cuts will not alleviate them.
Tax policy, deregulation are likely to stimulate investment, spending and demand.
There is no room for complacency about inflation.”
Today’s US dollar price
The table below shows the current percentage change of the United States Dollar (USD) against the major listed currencies. The US dollar was strongest against the British pound.
| USD | EUR | GBP | JPY | BOOR | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.26% | 0.35% | -0.05% | 0.08% | -0.30% | 0.05% | 0.34% | |
| EUR | -0.26% | 0.09% | -0.31% | -0.19% | -0.56% | -0.21% | 0.07% | |
| GBP | -0.35% | -0.09% | -0.40% | -0.28% | -0.65% | -0.30% | -0.02% | |
| JPY | 0.05% | 0.31% | 0.40% | 0.11% | -0.25% | 0.07% | 0.38% | |
| BOOR | -0.08% | 0.19% | 0.28% | -0.11% | -0.36% | -0.03% | 0.27% | |
| AUD | 0.30% | 0.56% | 0.65% | 0.25% | 0.36% | 0.36% | 0.64% | |
| NZD | -0.05% | 0.21% | 0.30% | -0.07% | 0.03% | -0.36% | 0.28% | |
| CHF | -0.34% | -0.07% | 0.02% | -0.38% | -0.27% | -0.64% | -0.28% |
The heat map shows the percentage changes of the major currencies relative to each other. The base currency is selected from the left column and the quote currency from the top row. For example, if you select the US dollar from the left column and move along the horizontal line to the Japanese yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
