Atlanta Fed President Raphael Bostic said on Monday that it’s hard to know what is happening with inflation right now because of the price volatility witnessed during the pandemic, as reported by Reuters.
“Making a forecast about the economy this year is really making a forecast about the virus,” Bostic added. “There are still steps the Fed could take to support the recovery and it will do so if needed.”
Market reaction
These comments don’t seem to be impacting the greenback’s performance against its rivals. As of writing, the US Dollar Index was up 0.36% on the day at 90.42. Meanwhile, the S&P 500 Index is down 0.2% at 3,817.
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