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Federal Reserve Governor Lael Brainard said on Tuesday that she expects to see further progress toward the Fed’s goals in the coming months, as reported by Reuters.

Additional takeaways

“We are far from goals  but seeing welcome progress.”

“The best  way to achieve, sustain Fed goals is to remain steady and clear in approach  and attentive to changing conditions.”

“Remaining steady  will help ensure economic momentum isn’t curtailed by premature tightening as tailwinds shift to headwinds next year.”

“Inflation, employment data reflect temporary misalignment of supply and demand.”

“Jobs are down 8 million to 10 million from the level we would have seen without the pandemic.”

“Will be important to see sustained progress on inflation.”

“We are attentive to risks on both sides of the expected path.”

“Will monitor inflation for any signs of unwelcome  evolution in inflation expectations.”

“If inflation moves materially, persistently above 2%, Fed has tools to gently guide it back down.”

Market reaction

The US Dollar Index showed no immediate reaction to these comments and was last seen trading flat on the day at 89.83.