The unemployment rate in the US is still very high and could reach 11% if people who left the labour force are factored in, Richmond Federal Reserve President Thomas Barkin said on Thursday, as reported by Reuters.
Additional takeaways
“2% is a target for inflation, not a ceiling.”
“I don’t have a stimulus bill in my economic forecast.”
“Spending could come back quicker than employment.”
“There are sectors in the economy showing great strength including manufacturing.”
Market reaction
These comments had virtually no impact on the US Dollar Index, which was last seen gaining 0.46% on a daily basis at 93.83.
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