When asked about market expectations for past rate hikes, the governor of the Reserva Federal, Lael Brainard, said there is still a lot of ground to cover in terms of employment and inflation, as reported Reuters.
Additional declarations
“The FOMC statement provides very clear guidelines for both rates and asset purchases.”
“The potential for fiscal stimulus will be taken into account in the modal perspective, but must also consider the continued risk of the virus.”
“Reasons to be optimistic that job market scars can be avoided.”
“The Fed has both the tools and the mandate to ensure that there is no change in long-term inflation expectations above 2%.”
“We are concerned about how quickly the groups hardest hit by the pandemic recession will get good jobs again.”
Market reaction
The US Dollar Index showed no reaction to these comments and was last seen shedding 0.3% on the day at 90.76.
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