Atlanta Federal Reserve President Raphael Bostic said on Wednesday that the US is in a turbulent time and added that volatility in inflation is expected, as reported by Reuters.
“Workers are stepping back and reflecting on the quality of jobs, relationship with the workplace,” Bostic noted and reiterated that the Federal Reserve would notice if inflation were to develop in troubling ways. “Most businesses do not expect price pressures to persist but the economy is still in a transitional phase.”
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 up 0.63% on the day at 90.73.
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