Fed's Barkin: Inflation data did not increase confidence disinflation is spreading
Source Fxstreet
Richmond Federal Reserve Bank President Thomas Barkin said on Thursday that the latest inflation data did not increase his confidence that disinflation is spreading in the economy, per Reuters.
Key takeaways
"Latest inflation data looks like disinflation did at end-2023, with goods prices falling, shelter moving sideways and services increasing."
"Fed is not yet where we want to be on inflation, though headed in the right direction over a longer time frame."
Market reaction
The US Dollar preserves its strength after these comments and was last seen gaining 0.08% on the day at 105.27.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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Gold price (XAU/USD) extends its gains for the second successive session on Thursday as traders seek safety amid the ongoing war in the Middle East.
Gold slumps to near $5,050 on oil-driven inflation fears, stronger US DollarGold price (XAU/USD) falls to around $5,065 during the early Asian session on Monday, pressured by a stronger US Dollar (USD) and inflationary risks. Traders will closely monitor the developments surrounding the US-Iran conflicts and geopolitical risks in the Middle East.
Gold price (XAU/USD) falls to around $5,065 during the early Asian session on Monday, pressured by a stronger US Dollar (USD) and inflationary risks. Traders will closely monitor the developments surrounding the US-Iran conflicts and geopolitical risks in the Middle East.
