Experts say the surge in the US money supply means the Federal Reserve will not cut interest rates in 2024!

Bert Dohmen, an analyst at Dohmen Capital Research, said that the recent sharp increase in the supply of M2 money in the US means that the Federal Reserve will not be able to deliver on expected interest rate cuts this year. He also believes that all discussions about how many times the Federal Reserve may cut interest rates this year are meaningless.

FX678 Finance20:55 ET

Federal Reserve Daly: Restrictive interest rates need more time to work

The Zhitong Finance App learned that San Francisco Federal Reserve Chairman Daly said that interest rates are currently holding back the economy, but it may take more time for inflation to return to the Federal Reserve's target level. “We have taken restrictive measures, but it may take more time to reduce inflation,” Daly said in a discussion on Thursday. This statement echoes Federal Reserve Chairman Powell's speech on April 16. Daly said that recent data showed that price pressure picked up at the beginning of this year, which highlights the reason why policymakers cannot declare victory in the fight against inflation until they are convinced that inflation is under control. She said, “For the next few months

Zhitong Finance19:48 ET

US Dollar Modestly Retreats After Disappointing Jobless Claims Data

The US Dollar Index (DXY) is trading at 105.35, slightly down. Despite signals of persistently high inflation acknowledged by Federal Reserve (Fed) Chair Jerome Powell and a recent hawkish stance from the Fed, the Dollar seems to be under mild downward pressure on Thursday due to the report of weak Initial Jobless Claims figures

FXStreet13:05 ET

US Initial Jobless Claims Increase to Highest Level Since August

Initial applications for US unemployment benefits rose last week to the highest level since August, coinciding with a recess at New York City public schools.

BNN BloombergMay 9 09:10 ET

XAU/USD Price Forecast for 2024

InvestingMay 9 09:07 ET

Gold Ticks Higher on Geopolitical Risk and Positive Outlook for Demand

Other bullish drivers include incresing geopolitical tensions and a rebound in Chinese trade data

FXStreetMay 9 06:22 ET