Richmond Federal Reserve Chairman Thomas Barkin told Bloomberg TV on Monday that they expect to see price pressures in the spring given stifled demand and excess savings, Reuters reported.
“Demand for goods has put some manufacturers behind the curve,” added Barkin. Regarding the Fedwire outage observed last week, Barkin noted that it was an internal error.
Market reaction
These comments do not appear to have a significant impact on the performance of the dollar against its rivals. At time of writing, the US Dollar Index was up 0.13% on the day at 90.99.
Featured statements
“There is no indication that inflation expectations are moving beyond a reasonable range, still below the Fed’s target.”
“The factors driving the increase in long-term returns so far appear to be an adjustment to stronger growth, inflation outlook, which does not impact investment at this time.”
“Downside risks were significantly reduced from the latest Fed forecast in December.”
“The Fed has a results-based guidance for rates that is explicit, the challenge for investors is to look at the results and not the schedule.”
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