USD/ZAR

The Federal Reserve has a dual mandate from Congress: stable prices and full employment. For the first objective, what prices should the Fed keep stable? There are many to choose from. Although they’re obviously correlated, they do deviate from each other, especially in the short run. The Fed and specifically the FOMC look at many price indexes, but their ...

Chairman Hill, Ranking Member Waters, and other Members of the Committee, thank you for the opportunity to testify on the Federal Reserve's supervisory and regulatory activities. Today, my testimony will cover three areas—current banking conditions, regulatory and supervisory reforms implemented since the Committee's last prudential regulator hearing, and ...

Lorie Logan, President of the Federal Reserve Bank of Dallas, said inflation remains too elevated and could prompt higher interest rates later this year if price pressures do not cool further. She said inflation is moving towards the mid-2s rather than reaching 2%, and that it is taking too long to return to the Fed’s target. She also said trimmed-mean ...

The Canadian government has announced a one-year extension of key trade measures affecting steel and aluminum imports, keeping both tariff protections and tariff relief programs in place through June 2027. According to the announcement, Canada will continue operating its tariff remission program, which reimburses eligible companies for certain tariffs ...

Fed's Logan: Current monetary policy looks neutral or loose. Fed's Logan: Need mildly restrictive policy.

Good afternoon. Thank you, Arturo [Barrio], for the generous introduction. It’s great to be back here. In my travels, I have many opportunities to thank people for welcoming me to their communities, and the welcome is never warmer than in El Paso. But I want to turn the tables today and welcome Arturo to the Dallas Fed. Our regional executives build the relationships that connect the Federal Reserve to the communities we serve. Those relationships help policymakers like me understand the economy. Equally, those relationships afford all of you the opportunity to help shape the Fed’s work. I’m so pleased to have a leader of Arturo’s caliber filling this role. And I’m delighted that Roberto Coronado, who preceded Arturo as regional executive, will remain in El Paso. Roberto will continue to connect with the community here while bringing his leadership acumen to broader responsibilities as head of community engagement and development throughout the Dallas Fed’s district. It’s wonderful to see so many special guests, including current and former board members of the Dallas Fed and our El Paso branch. And I’m honored to share the stage with a distinguished public servant, UTEP’s president, Heather Wilson. Dialogues like the one we’re having this afternoon are at the heart of the Fed’s mission. The Federal Reserve System is our nation’s central bank, but it is a decentralized institution. The system includes the Board of Governors in Washington and 12 Reserve Banks serving districts around the country. The Reserve Banks, in turn, have an additional 24 branch offices. I’m proud to say the Dallas Fed’s El Paso branch is believed to be the v FED'S LOGAN SAID SHE IS INCREASINGLY CONCERNED THAT HIGHER INTEREST RATES MAY BE NEEDED LATER THIS YEAR, CITING INFLATION'S SLOW RETURN TO THE FED'S 2% TARGET.

Another better-than-expected headline figure… this time it was the U.S. ISM Services PMI, which climbed 0.9 pts to 54.5. The gauge has now held in the expansion zone (above 50) for almost two years. Business activity climbed for a second straight month to 57.7, pointing to stronger demand and higher output. Meantime, new orders jumped to 57.3, suggesting ...

Economic activity increased at a "slight to moderate" pace for ten of the twelve Federal Reserve Districts, while one District reported a slight decline and one reported no change, according to the latest Fed Beige Book. The just released Beige Book - prepared at the Federal Reserve Bank of Kansas City based on information collected on or before May 27, ...

The Trump administration made what could be the first in a steady drumbeat of tariff news, announcing plans for a 10% tariff on top allies like the European Union and Canada and a 12.5% rate on other nations, including China. The release from Trump’s trade representative on Tuesday evening said that 59 countries and the 27 member states of the EU had failed ...