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WH Sr. Adviser Hassett: Outlook for Fed having room to cut rates is going to be very solid

Kevin Hassett, Senior Adviser for the White House told Fox Business on Tuesday that they expect a rapid reduction in energy prices once the Strait of Hormuz is reopened.

Key takeaways

We expect rapid reduction in energy prices once Strait of Hormuz opens.
Outlook for Fed having room to cut rates is going to be very solid.”

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 Canadian Dollar.

USD EUR GBP JPY CAD AUD NZD CHF
USD -0.38% -0.54% -0.40% -0.30% -0.60% -0.78% -0.49%
EUR 0.38% -0.15% -0.04% 0.08% -0.20% -0.38% -0.12%
GBP 0.54% 0.15% 0.11% 0.24% -0.06% -0.25% 0.03%
JPY 0.40% 0.04% -0.11% 0.12% -0.18% -0.37% -0.08%
CAD 0.30% -0.08% -0.24% -0.12% -0.31% -0.47% -0.20%
AUD 0.60% 0.20% 0.06% 0.18% 0.31% -0.18% 0.10%
NZD 0.78% 0.38% 0.25% 0.37% 0.47% 0.18% 0.28%
CHF 0.49% 0.12% -0.03% 0.08% 0.20% -0.10% -0.28%

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).


Fed’s Goolsbee: We will get inflation to 2%

Austan Goolsbee, President of the Federal Reserve (Fed) Bank of Chicago, told AP at the Semafor World Economy conference on Tuesday that the longer the Middle East concerns go, the cut could be pushed out of 2026.
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BoE’s Greene: Second-round effects

Megan Greene, external member of the Bank of England's (BoE) Monetary Policy Committee (MPC), Reuters reported on Tuesday that the United Kingdom’s (UK) economic activity was weak before the Iran war but that at the same time, the war impact is inflationary.
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