Neel Kashkari News

Federal Reserve is on track to tackle US inflation without pushing the country into a damaging recession, a senior official on the bank's rate-setting committee said Tuesday. After pushing its key lending rate to a 22-year high to tackle stubborn inflation, the Fed recently slowed down the pace of its hikes, citing a need to be data-dependent.

Investing.com -- Several Federal Reserve policymakers are due to deliver closely-watched speeches on Tuesday, with investors keen to receive any clues about how a recent spike in U.S. Treasury yields could impact the central bank's interest rate path.

Bitcoin’s (BTC) price bull run towards $28,000 on Oct. 1 was partially fueled by the uncertainty regarding the United States debt limit. However, the U.S. President Joe Biden signed the spending bill just hours before the Sept. 30 deadline, avoiding a government shutdown. 

US Treasury yields were little changed to modestly higher on Wednesday, as traders took a breather after a months-long sell-off fueled by expectations that the Federal Reserve will keep rates high for some time to bring inflation down to its 2% target. Yields, however, are expected to stay high, with the latest pullback seen as a minor blip. «In the near term, there is pro-active reluctance to buy (Treasuries) particularly given the speed of the latest sell-off,» said Ben Jeffrey, rates strategist, at BMO Capital in New York. «There are definitely enough risks out there in terms of labor market growth and the economy, as well as the risk of a government shutdown that will eventually help to bring some demand and push rates lower,» he added. In the credit default swaps market, the threat of another government shutdown sent one-year credit default swaps to their widest since June 1, when the US government was on the cusp of a technical sovereign default as politicians in Washington haggled over the borrowing limit. U.S. one-year credit default swaps widened to 22 bps on Wednesday, from 21 bps at Tuesday's close.

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rupee ended 8 paise lower at 83.23 a dollar. The rupee hit its record level of 83.29 in October 2022. Also Read: India could be the largest beneficiary: JPMorgan CEO explains why as companies look options beyond China Asian currencies were mostly weaker with the Korean won leading losses.

By Arathy Somasekhar

UBS managing director and senior portfolio manager Jason Katz discusses the impact of the UAW strike on the Federal Reserve and the auto industry, as well as high oil prices.

Minneapolis Federal Reserve President Neel Kashkari thinks there's nearly a 50-50 chance that interest rates will need to move significantly higher to bring down inflation.

dollar index gained on Tuesday but eased from a 10-month high as the upward march in Treasury yields paused, and the Japanese yen bounced from an 11-month low as Japanese officials warned about a possible intervention in the currency. Benchmark 10-year U.S. government bond yields have jumped to 16-year highs this month as economic data remains robust despite higher interest rates.

By Ann Saphir

rupee fell on Tuesday because of month-end dollar demand, and as U.S. Treasury yields gained on renewed bets that interest rates in the U.S.

By Harry Robertson and Tom Westbrook

Investing.com — The U.S. dollar rose Tuesday, climbing to 10-month highs after bond yields soared to 16-year peaks amid growing expectations that U.S. interest rates will rise further this year.

Investing.com-- Most Asian currencies fell slightly on Tuesday, while the dollar steadied at its highest levels for the year on growing bets that U.S. interest rates will rise further this year.

Investing.com-- Gold prices fell in Asian trade on Tuesday, facing consistent pressure from a stronger dollar and higher Treasury yields as Federal Reserve officials reiterated the bank’s outlook for higher interest rates. 

Minneapolis Federal Reserve Bank President Neel Kashkari on Monday said that given the surprising resilience in the U.S.

Investing.com-- Most Asian stocks retreated on Tuesday as the prospect of higher U.S. rates weighed on the technology sector, while persistent concerns over a Chinese economic slowdown also kept investors wary of regional markets. 

By Ann Saphir

Investing.com — U.S. stock futures traded marginally lower Monday, with investors still feeling the pressure of the Federal Reserve’s hawkish stance, while a potential U.S. government shutdown draws nearer.

For much of the year, the bond market has been embracing expectations that the Federal Reserve’s interest rate increases have peaked or were about to peak. The underlying logic centered on the ongoing slide in inflation following 2022’s spike.