Category: Federal Reserve System

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Foreign exchange rates, Eastern Caribbean and United States. 1:23 am AST

Federal Reserve System-United States Virgin Islands AUD/USD=0.6478 GBP/USD=1.2457 EUR/USD=1.0647 JPY/USD=0.0065 Eastern Caribbean Central Bank USD/XCD=2.7000 GBP/XCD=3.3679 CAD/XCD=1.9626 EUR/XCD=2.8833 Central Bank of Barbados USD/BBD=1.9800 GBP/BBD=2.4410 CAD/BBD=1.4342 EUR/BBD=2.0910 Central Bank of Trinidad and Tobago USD/TTD=6.2042 CAD/TTD=5.7145 GBP/TTD=8.2640 EUR/TTD=2.3943 Bank of Guyana USD/GYD=207.98 CAD/GYD=151.1 GBP/GYD=258.81 EUR/GYD=221.64 Sources: Board of Governors-Federal Reserve System, Eastern Caribbean Central Bank, Central Bank … Continue reading Foreign exchange rates, Eastern Caribbean and United States. 1:23 am AST

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Foreign exchange rates. Eastern Caribbean and Federal Reserve as 8:03 am AST

Federal Reserve AUD/USD 0.6478 GBP/USD 1.2457 EUR/USD 1.0647 USD/JPY 153.1200 Eastern Caribbean Central Bank USD/XCD 2.7000 AUD/XCD 1.7345 GBP/XCD 3.3670 JPY/XCD 0.0175 EUR/XCD 2.8728 CAD/XCD 1.9553 Central Bank of Barbados USD/BBD 1.9800 GBP/USD 2.4372 CAD/BBD 1.4289 EUR/BBD 2.0821 Sources: Eastern Caribbean Central Bank, Central Bank of Barbados, Board of Governors-Federal Reserve System. Continue reading Foreign exchange rates. Eastern Caribbean and Federal Reserve as 8:03 am AST

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The Fed narrative and depositors. Is there a conflict?

A high school classmate shared with me her concern about looking for higher yielding accounts. Baby boomers closing in on retirement are either trying to accumulate more cash via compounding interest while saving more of our incomes and sticking those savings into accounts. Meanwhile the media is guiding our eyeballs and eardrums to the messaging … Continue reading The Fed narrative and depositors. Is there a conflict?

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If the Fed wants to protect its political independence, it should petition to amend the Federal Reserve Act.

We are moving deeper into the silly season. If there are still any primaries going on, Super Tuesday just about sucked what little oxygen there was out of the room. That President Joe Biden and former president Donald Trump would end up being the presumptive nominees for their parties was, based on the polling, expected. … Continue reading If the Fed wants to protect its political independence, it should petition to amend the Federal Reserve Act.

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Does the media focus too much on the Federal Reserve?

I swear sometimes that Bloomberg, Reuters, and Yahoo! Finance are nothing but mouthpieces for the Federal Reserve System. During my brief stint as an analyst/editor with Telecommunications Reports, a standard mode for gathering intel on regulatory agencies was to sit next to the fax machine waiting for a press release. We would then confirm the … Continue reading Does the media focus too much on the Federal Reserve?

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Fed Day: The Community Reinvestment Act misses growth creation in low-income communities.

I live in the 30310-zip code made up primarily of Atlanta’s West End neighborhood. There is a population of approximately 26,062 people with a median income of $24,604. 79.9% of the residents classify themselves as African American or black, while 12.4% of residents classify themselves as white or Caucasian. The unemployment rate hovers around 4.6%. … Continue reading Fed Day: The Community Reinvestment Act misses growth creation in low-income communities.

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Dollar weakens after Powell’s testimony to Congress. Was it something he said?

Around 6:31 am yesterday, approximately three and one-half hours prior to Federal Reserve Board chairman Jerome Powell’s testimony before the U.S. House Committee on Financial Services, the price of the U.S. dollar in terms of the euro, British pound, Japanese yen, Canadian dollar, and the Eastern Caribbean dollar was as follows: USD/EUR=0.9193 USD/GBP=0.7858 USD/JPY=149.7394 USD/CAD=1.3582 … Continue reading Dollar weakens after Powell’s testimony to Congress. Was it something he said?

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It appears that the foreign exchange and bond markets were ready for the PCE report.

The U.S. Bureau of Economic Analysis gave the Federal Open Market Committee another reason to sing, “Should I Stay or Should I Go?” this morning as the Bureau presented its read on changes in consumer price levels. The Personal Consumption Price Index, the preferred price level barometer of the Federal Reserve System, increased 2.8% between … Continue reading It appears that the foreign exchange and bond markets were ready for the PCE report.

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A quiet day yesterday in the United States as foreign exchange markets got ready for Asia to open.

10-year bond yield and currency data from Bloomberg paint a quiet day in those markets. The GBP/USD stayed flat between 9:30 am to 4:15 pm with the rate going from 1.2686 to 1.2684. The EUR/USD was flat as well with ever so slight dollar weakening from 1.0847 to 1.0851 this afternoon. The Japanese yen demonstrated … Continue reading A quiet day yesterday in the United States as foreign exchange markets got ready for Asia to open.