In an interview with CNBC on Friday, the Richmond Fed President Thomas Barkinsaid the US labor market remained tight and added that they were not getting much help from the job supply side, as reported by Reuters.
“It will be difficult for people who have fought hard to raise prices to back down.”
“I’m not sure what we will do in December, there are still many indicators to go.yes.”
“It could be a potentially higher end point for rates even if it’s slower.”
“If inflation persisted, we would have to respond appropriately.”
“We have to bring inflation down to target and do whatever it takes to do that.”
The Dollar Index continues to push lower in the American session and trades down 1.65% on the day at 111.12.
Source: Fx Street