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Two words could rewrite the Fed: what happens if "maximum employment" gets struck?
The House Financial Services Committee (HFSC), chaired by Representative French Hill (R-AR), is the lower chamber's primary oversight body for banking, capital markets, housing finance, and monetary policy.Fxstreet
Wed, May 13
United States Producer Price Index soars in April amid Iran war
The United States (US) Producer Price Index jumped to 6% on a yearly basis in April, following the 4.3% posted in March and largely surpassing the expected 4.9%. On a monthly basis, the PPI rose 1.4%, doubling the March reading of 0.7%, and much higher than the anticipated 0.5%.Fxstreet
Wed, May 13
Silver: Eastern demand supports resilient upside – TD Securities
TD Securities strategists note Silver is maintaining its upside, trading resiliently despite higher energy prices. While recent CTA (Commodity Trading Advisors) buying has slowed, they see renewed interest from Chinese traders on SHFE (Shanghai Futures Exchange) and strong Chinese premiums.
Fxstreet
Wed, May 13
US annual producer inflation climbs to 6% in April vs. 4.9% expected
Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), rose to 6% on a yearly basis in April from 4.3% in March, the US Bureau of Labor Statistics (BLS) reported on Wednesday.Fxstreet
Wed, May 13
Indian Rupee: Import tariffs hike on Gold supports INR – BNY
BNY’s Bob Savage highlights that India has reversed earlier duty cuts by raising import tariffs on Gold and Silver to 15% from May 2026. The move aims to curb bullion imports, narrow the trade deficit and support the Rupee amid external pressures.
ECB’s Rehn: Monetary policy should not be based on oil prices alone
European Central Bank (ECB) official and Finnish Central Bank Governor Olli Rehn said during European trading hours on Wednesday that higher oil prices should be the only factor to direct monetary policy decisions. Rehn added that the central bank needs to assess the scope of energy shocks.
Fxstreet
Wed, May 13
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US Stocks Tumble as Nasdaq Drops Over 4%; Micron Plunges Over 12% on Fears Slowing AI Data Center Expansion Will Dent Infrastructure Demand
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