Goolsbee, president of the Chicago Fed, gave an interview today in which he commented on the current monetary policy and the latest macroeconomic data. According to the bank, the exact measure is written down by extreme inflation, and the relationship between bond yields, inflation and economic growth is complicated. Pesto current data indicate that the Fed will meet its target. The labor market is reaching a level playing field, and inflation is on the downward trend, potentially the fastest in this century. Goolsbee emphasized that, in his view, the so-called Golden Path is still achievable. The decision of the Fed will depend on the upcoming data.
Meanwhile Kashkari, president of the Federal Reserve Bank of Minneapolis, emphasized that the Fed’s fight against inflation is far from over and, if necessary, rate hikes are on the table. Kashkari noted that the economy shows no significant signs of weakening and that the labor market has become strong. He explained that the Fed would not hold a day of discussions about the rate hike, and raised concerns that the current economic activity could indicate that there was not enough time to control inflation. Kashkari insists that the Fed’s decision on annual rates should be based on inflation and the labor market.
From the public, the dollar started to strengthen again and push the indexes down. After the EURUSD bounce last week, we are now witnessing a correction. EURUSD lost 0.45% to trade at 1.0675. source: xStation 5
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Tags: dollar strengthening comments Fed bank
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