After exhibiting weakness in the Asian session, the U.S. dollar climbed higher Thursday morning after Federal Reserve Chair Jerome Powell reiterated the central bank's commitment to aggressively fighting inflation.
"We need to act now, forthrightly, strongly as we have been doing," Powell said during a Q&A session at the Cato Institute's 40th Annual Monetary Conference. "And we have to keep at it until the job is done."
For comments and feedback contact: editorial@rttnews.com
Forex News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.