Federal Reserve Governor Stephen Miran spoke at the Nomura Research Forum in Washington, DC. He stated that AI investment could lead to a higher neutral interest rate, and that recent policy changes, including immigration, have resulted in rapid shifts in the neutral rate.
The Dow Jones Industrial Average (DJIA) knocked sharply lower on Thursday following a week-long meandering period. The Dow tumbled into the 46,300 region after opening the American market session near 46,600, knocking the major equity index down around 300 points at the time of writing.
US Dollar (USD) keeps charging across the majors, closing-in on the upper bound of its range dating back to June. We’re still flying blind amid the ongoing US government shutdown, with key economic data releases on hold and visibility on the economy sharply reduced.