Philadelphia Fed President Patrick Harker said on Friday that price increases are expected in the short term due to supply and production problems, as reported Reuters.
Featured statements
“My forecast is that wages will stabilize as more people go back to work.”
“The Fed knows how to deal with inflation that is above where they want it.”
“I don’t see any signs that inflation is getting out of control.”
“In case inflation gets out of control, the Fed knows how to respond.”
“I have a big hurdle before I think about taking the Fed funds rate negative.”
“I feel comfortable letting this play out for now and I don’t think it’s time to act just yet.”
Market reaction
These comments do not appear to have a significant impact on the performance of the dollar against its rivals. At the time of writing, the US dollar index it was unchanged on the day at 89.93.
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