Chicago Federal Reserve bank president Charles Evans crossed the wires in the last minutes arguing that inflation in the United States (US) could rise to 2.2% by 2021 even if the Federal Reserve refrained from making further rate cuts.
Evans added that in the current environment, the federal funds rate could inch up a little bit through the end of the forecast period. “Strong dollar usually puts downward pressure on inflation; that’s something to take into account,” Evans noted.
The US Dollar Index largely ignored these comments and is now up 0.12% on the day at 99.52.
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