Investors now await the December US personal consumption expenditures (PCE) price index report on Friday
Waller said that while it was true inflation "appears to have stalled" above the Fed's 2% target in the waning months of 2024
The greenback rose to a near six-month peak after the US data. It was up 0.4 per cent at 158.195 yen. Earlier in the global session, the dollar hit its highest since July of 158.425 yen
Barr said he was stepping down from his role as the central bank's vice chair of supervision over a year before his term expires, but planned to keep his seat on the Fed's Board of Governor
The dollar advanced against all of its major peers in 2024, with the New Zealand dollar, Norwegian krone and Japanese yen weakening the most against the US currency
These tests determine the capital banks must set aside to meet their obligations and also dictate the scope of dividend payouts and stock buybacks
Stock market in 2024 so far: One of the most pivotal events impacting investor sentiment was the outcome of the 2024 General Elections
The Fed on Wednesday delivered a third straight interest-rate cut while signaling a slower pace of monetary easing next year to keep inflation in check, sending global stocks into a tailspin
Mr Powell brought to Wednesday's press conference details from 2018 Fed research that suggested looking past tariff-induced inflation
The dollar gave back some of Wednesday's gains and gold rallied as investors grew accustomed to the reality that the central bank will take a slower, more measured approach to policy easing
Some Fed officials incorporated 'highly conditional estimates' of Trump effects in new projections
Currencies around the world tumbled on Wednesday after the Fed decision boosted the dollar, although many rebounded on Thursday in choppy trading conditions with thin volumes ahead of holiday period
Dow Jones: The Dow Jones Industrial Average slid 1,123.03 points, or 2.58 per cent, to 42,326.87 on Wednesday - declining for a 10th day and clocking its longest losing streak since 1974
The central bank delivered its 3rd consecutive rate cut but signaled a slowdown in future reductions, leaving investors wary. The Fed trimmed its benchmark interest rate by a widely anticipated 25 bps
Signs of strong domestic demand added to warmer inflation readings in recent months in suggesting that the Fed could pause rate cuts in January
It may not be all that surprising that a growth upgrade for next year may be back in the cards again this week when Fed policymakers gather to deliver what is expected to be a third interest rate cut
Brent crude futures eased 32 cents to $73.59 a barrel at 0949 GMT, while US West Texas Intermediate crude was down 44 cents at $70.27 a barrel
The Fed is expected to say that it will be in no rush to make further cuts as inflation improves but remains above its 2 per cent annual target, while the labor market also remains relatively strong
Bitcoin soared above $106,000 for the first time, buoyed by signs President-elect Donald Trump will go ahead with a potential strategic bitcoin reserve
Investors are eyeing the US Consumer Price Index (CPI) release on Wednesday and the Producer Price Index (PPI) on Thursday