Fed Governor Stephen Meiran said the past few months have seen data consistent with his view of the world, and that he does not see a recession in the near term. He stated this in an interview with Bloomberg TV on Monday.
Key quotes
There were some anomalies in inflation data last week due to the government shutdown.
In the past few months we have had data that aligns with my worldview.
I don’t see a recession in the near term.
If we do not adjust policy downward, we face the risk of a growing recession.
I think we will eventually adjust interest rates downward.
Next year’s tax refund will provide a little stimulus.
My need to oppose 50 basis points diminishes over time as we lower interest rates.
If no one is confirmed in my seat by January 31, I assume I will remain in my seat.
You have to give Powell credit for arguing about the three FOMC interest rate cuts.
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 Swiss franc.
| US dollars | euro | GBP | JPY | Canadian | Australian dollar | New Zealand dollar | Swiss franc | |
|---|---|---|---|---|---|---|---|---|
| US dollars | -0.30% | -0.43% | -0.33% | -0.28% | -0.51% | -0.47% | -0.28% | |
| euro | 0.30% | -0.13% | 0.00% | 0.03% | -0.21% | -0.17% | 0.03% | |
| GBP | 0.43% | 0.13% | 0.11% | 0.16% | -0.08% | -0.03% | 0.16% | |
| JPY | 0.33% | 0.00% | -0.11% | 0.03% | -0.19% | -0.16% | 0.04% | |
| Canadian | 0.28% | -0.03% | -0.16% | -0.03% | -0.23% | -0.19% | 0.00% | |
| Australian dollar | 0.51% | 0.21% | 0.08% | 0.19% | 0.23% | 0.04% | 0.23% | |
| New Zealand dollar | 0.47% | 0.17% | 0.03% | 0.16% | 0.19% | -0.04% | 0.19% | |
| Swiss franc | 0.28% | -0.03% | -0.16% | -0.04% | -0.01% | -0.23% | -0.19% |
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).
