Market news

Show news:


15.01.2022 00:08

Fed's Williams: Expects Omicron wave to temporarily prolong supply chain bottlenecks

Federal Reserve Bank of New York President John Williams said on Friday that he expects the Omicron wave to temporarily prolong and intensify labour supply challenges and supply-chain bottlenecks. He also expects the wave to slow growth in the next few months as people once again pull back from contact-intensive activities.  

Additional Remarks:

"The economy should return to a solid growth trajectory and supply constraints should ebb after Omicron subsides."

"Expects real GDP to increase around 3.5% this year."

"Expects the unemployment rate will continue to come down further to 3.5% this year."

"Expects inflation to drop to around 2.5% this year, much closer to the FOMC’s 2% longer-run goal."

"Expects inflation to get close to 2% in 2023."

"The next step in reducing monetary accommodation will be to gradually bring the target range for Fed funds rate back to more normal levels."

"The timing of such decisions will be based on a wide range of data and information, with a clear eye on Fed's maximum employment and price stability goals."

"Inflation is too high and the Fed would not want to see it persist at high levels."

"The economy is very close or near to maximum employment."

"The Fed needs to bring inflation down."

"A lot of the factors driving inflation are still related to pandemic effects."

"High shipping costs are due to imbalances and those will be resolved."

"There is a lot of uncertainty about the inflation outlook."

"The Fed is committed to achieving 2% inflation over time."

"The Fed is data dependant and driven by analysis."

"Some supply chain issues are more persistent than he initially thought."

"The drivers of inflation have been more persistent."

"That's why some people expect inflation to be higher this year than previously thought."

"As the data changed and drivers of inflation changed the fed had to move policy consistent with that."

"He doesn't know exactly what the path of the fed funds rate will be this year because it will be driven by data."

"The Fed forecast seeing rate increases this year is completely sensible."

"It makes sense to continue this process of removing accommodation."

"The Fed can control short-term interest rates through various tools."

"He is confident that when it is time to adjust monetary policy the Fed has the tools."

"The Fed has the ability to manage the balance sheet smoothly."

"The primary tool of monetary policy is the Fed funds rate."


Keep up with latest Forex market news updates: Currencies, central banks, economic indicators for oil and gold trading – all you need to work effectively on Forex.

Market focus

January 2022
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002

Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Pacific Wellington 19:00 04:00 22:00 07:00 22:00 07:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Sydney 21:00 06:00 00:00 09:00 00:00 09:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Asian Tokyo 23:00 08:00 02:00 11:00 02:00 11:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Hong Kong, Singapore 00:00 09:00 03:00 12:00 03:00 12:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
European Frankfurt, Zurich, Paris 06:00 15:00 09:00 18:00 9:00 18:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenCloseе
London 07:00 16:00 10:00 19:00 10:00 19:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
American New York 12:00 21:00 15:00 00:00 15:00 00:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Chicago 13:00 22:00 16:00 01:00 16:00 01:00