Warsh avoids signalling interest rate direction and dismisses AI as a source of persistent inflation
Kevin Warsh, Fed chair, avoids signals on interest rates and dismisses AI investment as a source of persistent inflation during Senate testimony.
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The yield on the US 10-year bond rises to 4.581% after stable retail sales and a drop in unemployment claims to 208,000.
Kevin Warsh, Fed chair, avoids signals on interest rates and dismisses AI investment as a source of persistent inflation during Senate testimony.
Ibex 35 drops 1% due to geopolitical tension, while US inflation improves and ASML results boost optimism in the tech sector.
The Ibex 35 rises 0.11% to 19,356.6 points after US inflation fell to 3.5% in June, more than expected.
Fed Governor Christopher Waller warns that a new high in core inflation would force a short-term rate hike.
June CPI and results from JPMorgan, Citi, and Wells Fargo shape the week for Bitcoin, which could fall below $60,000 if inflation rises.
Gold falls 1.43% to $4,127.60 an ounce due to the Fed's aggressive shift anticipating rate hikes, overshadowing tensions in the Middle East.
Warsh's Fed creates five external working groups to modernise its monetary policy, led by Mervyn King, Marc Andreessen, and Thomas Sargent.
Lorie Logan, president of the Dallas Fed, proposes a voluntary centralised clearing scheme for Federal Reserve open market operations.
The dollar falls for the second consecutive session due to escalating tensions between the U.S. and Iran and strong employment data.
Christopher Waller defends future rate guidance but calls for flexibility to avoid limiting the Fed's response. The debate over the 'dot plot' intensifies.
Gold has fallen 30% from highs of $5,500, weighed down by the Fed and a strong dollar. Banks have split forecasts: between $4,800 and $5,300 for 2027.