NEW YORKâThe U.S. dollar index bounced back on Friday from recent declines following comments from Federal Reserve officials on interest rates that supported the currency, while the dollar was at a fresh six-year high against the yen and the euro eased. St. Louis Federal Reserve President James Bullard called for a dramatic increase in the Fed’s overnight lending rate to more than 3 percent this year, and said in a statement Friday that he not only favored a half-point increase this week, but rate increases at a pace that would require half-point increases at five of the Fed’s six remaining meetings this year. The comments follow the Fed’s decision on Wednesday to raise its key lending rate by a quarter of a percentage point. It also projected that the federal funds rate would reach a range of 1.75 percent to 2 percent by the end of 2022 and 2.8 percent …
Dollar Rebounds as Fed Officials Comment on Rates; Dollar at 6-years High Versus Yen
March 18, 2022
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