US EditionTrump's Tariffs, Fed's Inflation Stance, Gold's Record High, And GDP Growth: This Week In Economy
- On Monday, the Japanese yen rose, and gold reached a new all-time high, briefly hitting $3,097.36, amidst market nervousness ahead of expected reciprocal levies from the White House on Wednesday.
- Anticipation of President Trump's new tariffs, which he said on Sunday would affect essentially all countries this week, and recent U.S. Data indicating higher-than-expected core inflation, fueled worries about stagflation.
- On Monday, the yen was up as much as 0.35 per cent at 149.30 per U.S. Dollar, the yield on the 10-year note reached 4.1960 per cent, and the Swiss franc started the day by rising 0.3 per cent to 0.8775 per dollar, while the Aussie and New Zealand dollars eased.
- According to Ray Attrill, head of FX research at National Australia Bank, the U.S. Economic data contained a 'distinct stagflationary whiff,' and Peter Schiff attributed the record high gold price to declining trust in the U.S. Dollar and the certainty of inflation exceeding 2%.
- The U.S. Economy expanded at an annualized rate of 2.4% in the fourth quarter of 2024, revised up from 2.3%, but the Federal Reserve Bank of Atlanta has cast a pall over the first quarter of 2025 with a negative GDP growth forecast, and Americans now expect long-term inflation to average 4.1 percent annually over the next decade, the highest reading since 1993.
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Channel News Asia
Cryptocurrency News | Cryptocurrency Prices | Market CapYen gains, gold at record high as tariff angst ignites haven demand
TOKYO : The safe-haven Japanese yen rose on Monday while gold pushed to a fresh all-time peak as traders worried that U.S. President Donald Trump's tariffs will ignite inflation and crimp economic growth.Markets are nervous ahead of a new round of reciprocal levies that the White House is due to announce
Trump's Tariffs, Fed's Inflation Stance, Gold's Record High, And GDP Growth: This Week In Economy
Last week in U.S. financial news, Trump's 25% auto tariffs sparked economic concerns, the Fed's inflation messaging drew criticism, gold hit a record high amid dollar skepticism, stock futures dipped on tariff volatility, and U.S. GDP growth was slightly revised upward to 2.4% for Q4 2024.
DailyTruthReport
Bitcoin falls to $81.5K as US stock futures sell-off in advance of Trump’s ‘Liberation Day’ tariffs
The post Bitcoin falls to $81.5K as US stock futures sell-off in advance of Trump’s ‘Liberation Day’ tariffs appeared first on Daily Truth Report • DailyTruthReport.com.
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