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Over a three year horizon, the US can be back on a robust path with unemployment approaching the very low levels seen last year, Atlanta Fed President Raphael Bostic said on Friday. However, Bostic further noted that he is definitely seeing signs of slowing in the recovery.

Additional takeaways

“Comfortable above 2% inflation but will look more at trajectory than level.”

“Fed was closer than many appreciate to reaching its 2% inflation goal before the pandemic.”

“Impacts of the pandemic are making it difficult to see what is going on with inflation.”

Market reaction

The US Dollar Index largely ignored these remarks and was last seen flat on the day at 92.91.