Wall Street remains steady as inflation data aligns with expectations, fueling hopes for future interest rate cuts.
Donald Trump's economic plans face scrutiny as economists warn of potential inflation surge and budget deficits.
Jay Powell on Thursday once again reinforced his intention to serve out his term as chair of the Federal. Reserve, while making it clear the central bank is not "in a hurry" to lower interest rates.
US two-year yields, which are more sensitive to monetary policy, spiked after the remarks and traders dialed back bets on a December rate reduction to below 60% — from 80% in the previous day.
The greenback hovered near a one-year high against a basket of currencies at 106.88, eyeing a weekly gain of 1.8%, which would mark its best performance since September.
But the pace of rate cuts "is not preset," Powell said at a Dallas Fed event, adding that "the economy is not sending any signals that we need to be in a hurry to lower rates. The strength we are ...
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