Fed’s Barr: The Fed must pay attention to ensuring that the job market is solid
Federal Reserve (Fed) Governor Michael Barr spoke at a virtual event for Fed Communities on Thursday. He claimed that it is becoming increasingly difficult for those who are less well-off to save, making them more vulnerable to economic shocks, and that the low hiring rates in a low-hire, low-fire environment may indicate some impact of AI adoption in certain sectors.
Key takeaways
It is becoming increasingly difficult for those who are less well-off to save, making them more vulnerable to economic shocks.
There is currently a significant gap in the economy between the top 40% and the rest of the population.
The low hiring rates in a low-hire, low-fire environment may indicate some impact of ai adoption in certain sectors.
The Fed must pay attention to ensuring that the job market is solid.
I see a two-speed economy, with wealthier households thriving.
Progress has been made on inflation, but further work remains to be done.”
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 New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.45% | -0.49% | -0.72% | 0.10% | 0.50% | 0.55% | -0.40% | |
| EUR | 0.45% | -0.04% | -0.28% | 0.55% | 0.96% | 1.01% | 0.05% | |
| GBP | 0.49% | 0.04% | -0.24% | 0.59% | 1.00% | 1.05% | 0.09% | |
| JPY | 0.72% | 0.28% | 0.24% | 0.83% | 1.25% | 1.27% | 0.34% | |
| CAD | -0.10% | -0.55% | -0.59% | -0.83% | 0.41% | 0.45% | -0.50% | |
| AUD | -0.50% | -0.96% | -1.00% | -1.25% | -0.41% | 0.05% | -0.90% | |
| NZD | -0.55% | -1.01% | -1.05% | -1.27% | -0.45% | -0.05% | -0.95% | |
| CHF | 0.40% | -0.05% | -0.09% | -0.34% | 0.50% | 0.90% | 0.95% |
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).