The firm will pay a US$5.5-million penalty but did not admit or deny the SEC's findings
The cautious approach will exasperate a global energy crunch
More rate increases could be in the pipeline based on the latest economic outlook
Reasons include supply bottlenecks, 38% rise in energy prices
Inflation and the war in Ukraine may curb consumer spending this year
Slower normalization could increase divergence in foreign exchange rates
BMO expects a Fed rate hike of 50 bps in May as inflation cuts spending power
In a speech on Thursday, the U.S. Treasury Secretary also advocated for maintaining the dollar's prominence
Unemployment dropped to its lowest rate since the pandemic erupted
Trading was under heavy restrictions after the month-long shutdown