15 July 2021
Federal Reserve Board chairman continues testimony before Congress.
Federal Reserve Board chairman Jerome Powell is expected today to share with the U.S. Senate Committee on Banking, Housing and Urban Affairs the same testimony shared yesterday with the U.S. House Committee on Financial Services.
Mr Powell, while acknowledging growth in the economy and the threat of increasing prices, did not indicate any changes in the Federal Reserve’s current asset purchase program. The Federal Reserve will maintain its purchase of Treasury securities and agency mortgage-backed securities totaling $120 billion a month.
For a consultation on any regulatory or legislative discussions or announcements during today’s hearing, please reach out to us at altondrew@altondrew.com to reserve an appointment.
Exchange rates of interest as of 10:30 am AST
| Currency pair | Exchange rate |
| AUD/USD* | 0.7448 |
| EUR/USD* | 1.1812 |
| GBP/USD* | 1.3854 |
| USD/CAD* | 1.2520 |
| USD/CHF* | 0.9143 |
| USD/JPY* | 109.9600 |
| USD/XCD+ | 2.7000 |
| USD/NGN+ | 410.5130 |
| USD/MXN* | 19.9260 |
Sources: *Reuters +OANDA
Rates reported by the Federal Reserve (Release Date 14 July 2021)
Effective Fed Funds Rate: 0.10%
Discount Window: 0.25%
Prime Bank Rate: 3.25%
4-week Treasury bill: 0.05%
3-month Treasury bill: 0.05%
6-month Treasury bill: 0.06%
1-year Treasury bill: 0.08%
Alton Drew, Consiglieri 