Treasury Secretary Janet Yellen on Thursday said she believes high U.S. inflation will come down “certainly next year,” but noted risks to the outlook including the ongoing Russian war in Ukraine. Speaking at an event sponsored by the Atlantic, Yellen said the Federal Reserve is “clearly committed to bringing inflation down.” The Fed on Wednesday delivered its third consecutive super-sized increase in interest rates and signaled more big hikes before the end of the year, as it stepped up its fight against inflation.
AUDUSD rises on positive employment data
The AUDUSD rate remains above the EMA-200 line, thanks to the stable Australian economy. Discover more in our analysis for 17 October 2024. AUDUSD forecast: