WASHINGTON (Reuters) - Inflation showing no recent sign of slowing or narrowing in scope leaves U.S. Federal Reserve policymakers challenged this week over how to characterize their next steps even as the countdown to a contentious U.S. presidential election continues. The Fed is seen holding its benchmark interest rate steady at 5.25%-to-5.5% at its April 30-May 1 meeting, and a...

07:41 AM EDT, 04/29/2024 (MT Newswires) -- The US dollar fell against its major trading partners early Monday as markets turn their attention to the conclusion of a two-day Federal Open Market Committee meeting Wednesday and Friday's employment report for April. The week starts off slowly Monday with the Dallas Federal Reserve's manufacturing reading for April at 10:30 am ET...

07:26 AM EDT, 04/29/2024 (MT Newswires) -- The US dollar fell against most major currencies during early European trade on Monday following a suspected Japanese intervention to support the yen at the opening of an action-packed week for economic data and fundamental risks. The yen rose sharply against the US dollar from midnight Eastern time after USD/JPY rallied from 158...

Recent inflation surprises have left the Federal Reserve without sufficient confidence to consider interest rate reductions, prompting a scenario of higher-for-longer interest rates. That’s the insight coming from Bank of America’s U.S. economist Michael Gapen ahead of this week’s Federal Open Market Committee meeting and interest rate decision, due at 2 p.m. ET Wednesday. With no immediate changes in interest...