White House economic adviser Kevin Hassett said the Federal Reserve has plenty of room to cut interest rates this month and will likely need to do so again. The front-runner to be the next chairman of the Federal Reserve spoke on Fox News on Wednesday, saying he was “honored” to be on the list of candidates to succeed Jerome Powell.
Key takeaways
The Fed has plenty of room to cut interest rates.
Maybe you will need to do some more.
Stronger data could support a 50 basis point cut.
The president will choose the head of the Fed within a week or two.
“I am honored to be shortlisted.”
US dollar price today
The table below shows the percentage change in the US Dollar (USD) against the major currencies listed today. The US dollar was the strongest against the Australian dollar.
| US dollars | euro | GBP | JPY | Canadian | Australian dollar | New Zealand dollar | Swiss franc | |
|---|---|---|---|---|---|---|---|---|
| US dollars | -0.27% | -0.29% | -0.30% | -0.13% | -0.03% | -0.06% | -0.42% | |
| euro | 0.27% | -0.02% | -0.04% | 0.15% | 0.24% | 0.22% | -0.15% | |
| GBP | 0.29% | 0.02% | 0.00% | 0.17% | 0.26% | 0.24% | -0.13% | |
| JPY | 0.30% | 0.04% | 0.00% | 0.19% | 0.28% | 0.28% | -0.11% | |
| Canadian | 0.13% | -0.15% | -0.17% | -0.19% | 0.09% | 0.08% | -0.30% | |
| Australian dollar | 0.03% | -0.24% | -0.26% | -0.28% | -0.09% | -0.02% | -0.39% | |
| New Zealand dollar | 0.06% | -0.22% | -0.24% | -0.28% | -0.08% | 0.02% | -0.37% | |
| Swiss franc | 0.42% | 0.15% | 0.13% | 0.11% | 0.30% | 0.39% | 0.37% |
The heat map shows the percentage changes in major currencies versus each other. The base currency is chosen from the left column, while the counter currency is chosen from the top row. For example, if you select USD 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).
