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Richmond Fed President Thomas Barkin on Tuesday said that the Federal Reserve’s monetary policy was in a “mildly accommodative place,” following this year’s rate cuts. “Current level of inflation is not the worst outcome given that expectations seem well-anchored,” Barkin added.

These comments had little to no impact on the USD’s market valuation. As of writing, the US Dollar Index, which tracks the greenback’s value against a basket of six major currencies, was up 0.1% on the day at 98.30.