Richmond Federal Reserve President Thomas Barkin told the Financial Times on Monday that the US economic recovery still needs support despite concerns over a sharp increase in inflation, per Reuters.
Barkin further noted that the short-term price volatility was expected and added that he remains focused on medium-term inflation expectations.
Market reaction
These comments don’t seem to be having a significant impact on the greenback’s performance against its rivals. As of writing, the US Dollar Index was posting small daily losses at 90.97.
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