Fed's Barr signals further rate increases likely needed for 2% inflation goal
Fed's Michael Barr said more rate hikes are likely needed to bring inflation back to 2% in a timely manner.
Fed's Michael Barr said more rate hikes are likely needed to bring inflation back to 2% in a timely manner.
US September flash services PMI rose to 58.7, beating the 56.0 forecast. Manufacturing PMI jumped to 57.0.
Bitcoin rose about 13% after the Fed's September 16 rate hike, driven by Wall Street fund buying. Three factors fueled their return.
EUR/USD is approaching the 1.1400 support zone as markets digest hawkish Fed and ECB decisions and await flash PMIs and US-Iran talks.
Strive CEO Matt Cole says Bitcoin could rise without limit versus the dollar as US debt worsens.
NY Fed's Roberto Perli said the halt in bill purchases is not preset and will be adjusted based on liquidity needs, keeping the door open to resumption.
Bitcoin traded at $86,423 as Tom Lee and iTrustCapital CEO Kevin Maloney said the worst is over, despite a rate hike and failed crypto bill.
Fed's Barkin likened the current hiking cycle to the 1990s mid-cycle adjustment; an easing cycle then featured 75 bps cuts over seven months.
Richmond Fed President Barkin said inflation risks outweighed employment risks in last week's rate hike, and sees the economy firming, leaving the door openβ¦
Fed's Collins says a stronger labor market allows policymakers to focus on price stability after five years of high inflation.
10-year Treasury yields linger near 5% after briefly breaching that level, with inflation and fiscal concerns seen as potential catalysts for further rises.
ANZ and Credit Agricole see near-term dollar support from rate repricing, but caution that upside may be capped.
Central bankers flagged persistent inflation risks amid quiet Asia-Pacific trading, with New Zealand and Australian dollars gaining on hawkish remarks.
RBA's Bullock says supply shocks are hard for policy to manage, focusing on second-round effects, reinforcing the hawkish stance ahead of the Sept 28-29β¦
HSBC sees the 10-year Treasury yield near 4.65% by year-end, not 6%, as markets calm on falling oil and Iran hopes.