US: Fed ‘very concerned’ about florid exchange rate spike

US: Fed ‘very concerned’ about florid exchange rate spike

October 7, 2021 Comments Off on US: Fed ‘very concerned’ about florid exchange rate spike By admin

Florid U.S. dollar rates spiked to a record low Wednesday, sending U.N. and European governments scrambling to stem the slide in world markets.

The move, which could increase tensions in Europe and boost the U.K.’s economy, raised concerns about an influx of money from China, the world’s second-largest economy, to boost growth and inflation.

The steep drop in the U., a U.H.C. partner, has raised concerns that the U’s economy could collapse if the yuan’s strength takes hold.

Inflation and job losses are also expected to push up wages and make many Americans less competitive for a job.

But economists said the drop in Chinese imports is unlikely to cause a global recession.

The euro has also weakened against the dollar in recent days, hitting a record high against the greenback at $1.2545.

The drop in sterling has been an economic boon for Britain, which has seen its economy grow by a third over the past year.

But the drop could dampen Britain’s growth in coming years, according to the Bank of England.

Fed Chairman Ben Bernanke said the Fed was “very concerned” about the currency moves.

“It is not clear that it is consistent with the fundamentals of a resilient global economy and the continued economic recovery,” he said at a meeting with members of the Federal Open Market Committee on Wednesday.

Fed Chair Janet Yellen, whose agency helped push the U to record highs last year, also expressed concern that the currency changes were hurting global growth.

“These developments have raised concerns with regard to the outlook for the outlook of the U, as the currency market is now a major driver of the global economy,” Yellen said.

“If the U becomes more unstable and less responsive to monetary policy, the global economic outlook may be harmed.”

She said it was possible the U could have a double-dip recession, as it has in the past.

In a letter to members of Congress Wednesday, Bernanke warned the market could fall further if the dollar were to fall too far.

“The global economy as a whole is now in a stronger position than it was just two years ago, but if the U remains vulnerable to currency fluctuations, it could potentially suffer a double dip recession,” he wrote.

Bernanke also noted that a number of countries in Europe, including Germany and France, have already reported a large decline in exports to the U over the last two weeks.

But he said that the situation was “not particularly worrisome” in the euro area, and that the trend was probably to stabilize.

The U.B. of exchange rate watchers warned that if the currency declines further, the risks to global growth would be even greater.

“While the U is still a large and important trading partner, it will be hard to sustain this trend of continued declines in the value of the euro as a currency,” said John Kilduff, the chief economist at BNP Paribas.

“We believe that the outlook will continue to deteriorate and we believe the euro will likely weaken further.”

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