Thomas Barkin News

Richmond Federal Reserve President Thomas Barkin on Wednesday expressed confidence that the economy is on its way to a soft landing, but obstacles remain that will require caution from him and his fellow policymakers.

Bonds rallied and equities paused as a fresh batch of soft inflation data boosted the likelihood of interest-rate cuts, but also underscored the risk of an economic downturn.

Investing.com — The U.S. dollar edged higher in early European trade Wednesday, while sterling slumped as rapidly cooling inflation lifted expectations of Bank of England rate cuts next year.

By Stella Qiu

By Brigid Riley

Richmond Federal Reserve President Thomas Barkin said Wednesday that policymakers need to retain the option of raising interest rates if inflation doesn't show enough progress coming down.

By Howard Schneider and Ann Saphir

The recent rebound in the EUR/USD currency pair appears likely to be nothing more than a temporary correction within the ongoing downtrend that began in mid-July as, longer-term, the fundamental factors pushing the US dollar higher haven't changed, despite of all the recent noise.

(Reuters) — U.S. stock index futures fell on Thursday as investors awaited more data to gauge the strength of the labor market, while elevated Treasury yields still pointed to worries about high interest rates for a prolonged period.

dollar held off a 10-month high on Friday as markets headed into the end of the quarter, giving the yen slightly more breathing room at the end of the week amid intervention concerns. The euro largely held its ground after rebounding overnight, but was still not far from its January low of $1.0482, which if broken would be the lowest since December. The dollar index, which tracks the currency against six other majors, was mostly flat in the Asian morning, on track for an 11th straight week of gains, after dipping as low as 106.020 overnight. The dollar gained on expectations that the U.S.

Investing.com — All eyes are on Nvidia, with the chipmaker and AI darling set to release second quarter earnings after the close of U.S. trading on Wednesday. Meanwhile, Richmond Fed President Thomas Barkin raises the prospect of a «reacceleration scenario» in the American economy as central bankers from around the world prepare to congregate for a key economic symposium this week in Jackson Hole, Wyoming.

rupee posted its biggest one-day gain in more than two months on Wednesday, traders said, likely due to dollar inflows into the equity markets while state-run banks also sold the greenback. The rupee closed up 0.3% at 82.6850 to the dollar, compared with its close of 82.9350 in the previous session. State-run banks selling the greenback, especially in the last hour or so, pulled the pair down, a trader with a state-run bank said. In a move to reduce pressure on the local unit, India's central bank has also asked some banks to stop taking fresh arbitrage positions in the non-deliverable forwards (NDF) market, sources told Reuters. «I have been hearing about IPO and QIP flows but difficult to know for sure in this kind of price action,» a senior forex trader at a private bank said. The rupee managed to hold above 83 despite the dollar's advance against most Asian peers. A move higher on near-maturity U.S. Treasury yields hurt demand for Asian currencies, while the dollar index hovered near 103.90. A resilient U.S.

Gold prices gained on Wednesday, as a slight pullback in U.S. dollar and Treasury yields helped bullion stabilise near a key $1,900 level ahead of a central bankers' gathering that would likely provide cues on interest rates outlook. FUNDAMENTALS * Spot gold was up 0.2% at $1,900.30 per ounce by 0123 GMT, while U.S.

By Howard Schneider

The benchmark U.S. 10-year Treasury yield rose as high as 4.198% during the session, the highest since November, extending its climb from a day earlier following Fitch's downgrade of the top-tier U.S. credit rating.

Investing.com — Stocks rose on Wednesday after evidence that inflation cooled more than expected in June stoked hopes that the Federal Reserve could get to the end of its interest rate increases sooner rather than later.

Despite positive inflation data this week, Richmond Federal Reserve President Thomas Barkin said Friday that more interest rate increases will be needed to tamp down price pressures.

The U.S. economy is ready for interest rate increases to control rampant inflation, Richmond Federal Reserve President Thomas Barkin said Monday.