Bank of Richmond (Fed) Federal Reserve President Thomas Barkin said Thursday that “current monetary policy is in good shape to respond to ongoing shocks.” Speaking about the U.S. economic outlook and monetary policy, Barkin added that future interest rate decisions will depend on how businesses and consumers respond to developing conditions.
Key Quotes:
Current policy is in a good place to respond to ongoing shocks.
Whether the Fed will need to raise interest rates depends on how businesses and consumers respond to developing conditions.
Consumers are not ecstatic, but they continue to spend.
Companies are so far managing productivity improvements through employee attrition rather than layoffs.
The policy of analyzing supply shocks has worked well in the past, but it is basic to see more challenging conditions and more recurrent shocks in the future.
So far, long-term inflation expectations appear to remain subdued.”
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 Canadian dollar.
| USD | EUR | GBP | JPY | BOOR | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.06% | 0.00% | 0.02% | 0.24% | -0.09% | -0.13% | 0.02% | |
| EUR | -0.06% | -0.06% | -0.06% | 0.16% | -0.16% | -0.24% | -0.06% | |
| GBP | -0.01% | 0.06% | 0.02% | 0.22% | -0.09% | -0.15% | -0.01% | |
| JPY | -0.02% | 0.06% | -0.02% | 0.19% | -0.11% | -0.23% | -0.02% | |
| BOOR | -0.24% | -0.16% | -0.22% | -0.19% | -0.29% | -0.38% | -0.23% | |
| AUD | 0.09% | 0.16% | 0.09% | 0.11% | 0.29% | -0.08% | 0.06% | |
| NZD | 0.13% | 0.24% | 0.15% | 0.23% | 0.38% | 0.08% | 0.14% | |
| CHF | -0.02% | 0.06% | 0.00% | 0.02% | 0.23% | -0.06% | -0.14% |
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).
