Richmond Federal Reserve President Thomas Barkin told Bloomberg TV on Monday that they expect to see price pressures in spring given the pent-up demand and excess savings, as reported by Reuters.
“The demand for goods has put some manufacturers behind the curve,” Barkin further added. Regarding the Fedwire outage seen last week, Barkin noted that it was an internal error.
Market reaction
These comments don’t seem to be having a meaningful impact on the greenback’s performance against its rivals. As of writing, the US Dollar Index was up 0.13% on the day at 90.99.
Additional takeaways
“No indication that inflation expectations are moving beyond a reasonable range, still shy of the Fed target.”
“Drivers of rise in long-term yields so far seems adjustment to stronger growth, inflation outlook, not impacting investment at this point.”
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