Fed's Collins: not enough data by July to decide on a rate cut
'We're only going to have really one more month of data before the July meeting,' Collins told Bloomberg News. 'I expect to want to see more information than that.'
Collins also said she sees no urgency to cut rates and that her baseline expectation, that the Fed will resume cutting rates later this year, "could mean one rate cut, it's possible it means more than that, but I think the data will really need to tell us."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
28 minutes ago
- Reuters
Report: Bobby Webster absorbs Raptors' team president duties
August 18 - The Toronto Raptors are adding president of basketball operations duties onto the plate of general manager Bobby Webster, ESPN reported Monday. Webster will continue to serve as the team's GM as well. Webster, 40, takes over the team's top front office role from Masai Ujiri, who was fired on June 27. Ujiri hired Webster in 2013 as the team's vice president of strategy. A native of Hawaii, Webster was hired by the NBA in 2006 and advised teams on salary cap and luxury tax details. He remained with the league until moving to the Raptors. In June of 2017, Webster was promoted to Raptors general manager in place of Jeff Weltman. He was the NBA's youngest general manager at the time at age 32, and two seasons later, the franchise won its lone NBA title. Toronto has made the playoffs just twice since winning the championship in 2019 and has not advanced to the postseason in any of the past three seasons. The Raptors finished 30-52 last season, slightly better than their 25-57 mark in 2023-24 under head coach Darko Rajakovic. --Field Level Media
Reuters
29 minutes ago
- Reuters
Canadian dollar steadies ahead of domestic inflation data
TORONTO, Aug 18 (Reuters) - The Canadian dollar was barely changed against its U.S. counterpart on Monday as oil prices rose and investors awaited domestic inflation data that could guide expectations for the Bank of Canada policy outlook. The loonie was trading nearly unchanged at 1.3814 per U.S. dollar, or 72.39 U.S. cents, after moving in a range of 1.3784 to 1.3831. Canada's consumer price index report for July is due on Tuesday. Economists expect the annual rate of increase in consumer prices to ease to 1.8% from 1.9% in June, but measures of underlying inflation that are closely tracked by the BoC are forecast to remain well above the central bank's 2% target. "Tomorrow's Canadian inflation report should remain too hot for comfort," Karl Schamotta, chief market strategist at Corpay, said in a note. "The central bank's preferred trim and median core measures are likely to hold close to the 3% threshold for now as retaliatory tariffs and still-resilient consumer spending levels translate into upward pressure on prices." Investors see a 68% chance that the BoC would leave interest rates unchanged at its next policy decision on September 17. The central bank has been on hold since lowering the benchmark rate to 2.75% in March. The price of oil , one of Canada's major exports, was up 0.5% at $63.11 a barrel, while the U.S. dollar (.DXY), opens new tab notched gains against a basket of major currencies. Canadian housing starts unexpectedly rose in July, advancing 4% from the previous month, data from the national housing agency showed. Data on Friday from the U.S. Commodity Futures Trading Commission showed that speculators have raised their bearish bets on the Canadian dollar to the highest level since June. The Canadian 10-year yield was up 2.7 basis points at 3.489%, after earlier touching its highest level since July 30 at 3.506%.
Reuters
29 minutes ago
- Reuters
Black Rock Coffee Bar makes US IPO filing public
Aug 18 (Reuters) - Coffee chain Black Rock Coffee Bar made public its paperwork for an initial public offering in the United States on Monday.
