Federal Reserve Governor Christopher Waller indicated a potential interest rate cut at the upcoming December meeting, contingent on forthcoming economic data. Waller highlighted that robust economic indicators could alter this stance, emphasizing the importance of the November jobs report and upcoming inflation figures.
New York Fed President John Williams echoed the sentiment, suggesting that further rate reductions may be necessary, depending on economic conditions. He reaffirmed the Fed's commitment to maintaining a restrictive monetary policy aimed at reducing inflation towards the 2% target.
In the financial markets, the US dollar strengthened, with the euro dropping by 0.5% to approximately 1.05 dollars. This movement followed comments from President-elect Donald Trump regarding potential tariffs on BRICS nations if they establish a currency to rival the dollar.
In South Korea, inflation figures for November came in lower than expected, with the consumer price index rising by 1.5% year-over-year, below the anticipated 1.7%. This underperformance supports the Bank of Korea's accommodative monetary policy.
Market reactions included a notable increase in the Nasdaq index, reaching a new record high, driven by strong performances from technology stocks. Meanwhile, US Treasury yields rose slightly, influenced by the economic data releases, while the Federal Reserve's next rate decision remains closely watched.