DXY Futures Below 104 Mark; Fed Powell stands Mid-way On Rate Cuts

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US Federal Reserve Chair Jerome H. Powell stated in his speech on Wednesday that outlook is still quite uncertain, and we face risks on both sides. He said that reducing rates too soon or too much could result in a reversal of the progress we have seen on inflation and ultimately require even tighter policy to get inflation back to 2 percent. However he also emphasized that easing policy too late or too little could unduly weaken economic activity and employment. Thus as conditions evolve, monetary policy is well positioned to confront either of these risks, he added. The dollar index that measures the greenback against a basket of currencies is quoting on the sidelines below 104 mark awaiting further cues from Fridays non-farm data.

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First Published: Apr 04 2024 | 11:17 AM IST

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