Dallas Fed President Lorie Logan He said October’s CPI inflation data is a relief, but added that they still have a long way to go, as reported by Reuters.
Featured Statements
“Inflation is too high.”
“It may soon be wise to slow the pace of rate hikes so the Fed can better assess evolving financial and economic conditions.”
“I don’t see the decision to slow the pace of rate hikes as being particularly related to incoming data.”
“Monetary policy must now focus on rapidly restoring price stability.”
“Adjustments in the financial system in response to interest rates are expected and appropriate to moderate demand and reduce inflation.”
“We are seeing a normal response from financial markets to monetary policy tightening.”
“The process of cooling the economy by the Fed has only just begun.”
“The labor market remains very tight.”
“Wages continue to grow considerably faster than the rate consistent with 2% inflation.”
“A slower pace should not be taken as an easier policy related to incoming data.”
“A wide range of information will be examined to assess whether the policy is restrictive enough.”
Market Reaction
The Dollar Index continues to push lower and was last seen losing 1.6% on the day at 108.65.
Source: Fx Street
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