Chicago Federal Reserve (Fed) President Austan Goolsbee commented in a CNBC interview at the Jackson Hole Symposium on Friday that he agreed with Fed Chair Kevin Warsh about the details of the economy, adding that “inflation is the Fed’s main issue right now.”

Goolsbee added that “inflation persists longer than expected,” and when asked about the number of FOMC meetings, he said he doesn’t have a strong opinion on the topic.

Key highlights:

AGREED WITH WARSH ABOUT DETAILS OF ECONOMY

AGREES INFLATION IS FED’S MAIN ISSUE RIGHT NOW

PRETTY CLEAR THAT INFLATION FROM OVERHEATED DEMAND IS HARD TO ADDRESS

INFLATION HAS CONTINUED FOR LONGER THAN EXPECTED

WAS OK WITH HOLDING RATES STEADY AT JULY FOMC

DOESN’T HAVE STRONG OPINION ABOUT NUMBER OF FOMC MEETINGS

DOESN’T THINK FED AND TREASURY ARE AT CROSS PURPOSES

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the New Zealand Dollar.

USD EUR GBP JPY CAD AUD NZD CHF
USD 0.63% 0.48% 0.48% 0.38% 0.52% 0.73% 0.67%
EUR -0.63% -0.15% -0.13% -0.28% -0.11% 0.11% 0.05%
GBP -0.48% 0.15% 0.02% -0.14% 0.04% 0.27% 0.20%
JPY -0.48% 0.13% -0.02% -0.11% 0.03% 0.23% 0.18%
CAD -0.38% 0.28% 0.14% 0.11% 0.13% 0.34% 0.29%
AUD -0.52% 0.11% -0.04% -0.03% -0.13% 0.22% 0.16%
NZD -0.73% -0.11% -0.27% -0.23% -0.34% -0.22% -0.05%
CHF -0.67% -0.05% -0.20% -0.18% -0.29% -0.16% 0.05%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

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Fed FAQs

Monetary policy in the US is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these goals is by adjusting interest rates.
When prices are rising too quickly and inflation is above the Fed’s 2% target, it raises interest rates, increasing borrowing costs throughout the economy. This results in a stronger US Dollar (USD) as it makes the US a more attractive place for international investors to park their money.
When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates to encourage borrowing, which weighs on the Greenback.

The Federal Reserve (Fed) holds eight policy meetings a year, where the Federal Open Market Committee (FOMC) assesses economic conditions and makes monetary policy decisions.
The FOMC is attended by twelve Fed officials – the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Reserve Bank presidents, who serve one-year terms on a rotating basis.

In extreme situations, the Federal Reserve may resort to a policy named Quantitative Easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system.
It is a non-standard policy measure used during crises or when inflation is extremely low. It was the Fed’s weapon of choice during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy high grade bonds from financial institutions. QE usually weakens the US Dollar.

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Quantitative tightening (QT) is the reverse process of QE, whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing, to purchase new bonds. It is usually positive for the value of the US Dollar.


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Shin John
Shin JohnYtv Market News
Share-market news writer and analyst with deep experience covering equities, commodities, forex, and cryptocurrencies for readers in the USA, UK, Canada, and Australia. Ytv Market News delivers timely market updates, practical trading insights, and clear explanations of macro and company-level catalysts that move prices. Combines on-the-ground financial reporting with technical analysis, using concise charts and actionable ideas to help investors and traders make smarter decisions.