Philadelphia Fed President Patrick Harker noted on Tuesday that the economic recovery in the US is still “a little fragile,” as reported by Reuters. Additional takeaways “Velocity of inflation matters, not just the level.” “There are lots of reasons including technology and globalization that are keeping prices down.” “In the longer run, the Fed wants inflation to run slightly above 2% because it’s been consistently below target.” “The Fed is not anticipating inflation running out of control.” “The Fed knows the tools to deal with higher inflation.” “News on Johnson & Johnson vaccine could fuel more vaccine hesitancy.” “If we don’t get herd immunity we are not going to get the economy fully back.” “Pulling back accommodation doesn’t make sense right now.” “The Fed has time to move because inflation is not running out of control.” “If inflation does run out of control, the Fed will act accordingly.” Market reaction The greenback remains on the back foot following these comments. As of writing, the US Dollar Index was down 0.22% on a daily basis at 91.88. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Dogecoin price jumps 20% again as investment company buys $60 million worth of Dogecoin Cash FX Street 2 years Philadelphia Fed President Patrick Harker noted on Tuesday that the economic recovery in the US is still "a little fragile," as reported by Reuters. Additional takeaways "Velocity of inflation matters, not just the level." "There are lots of reasons including technology and globalization that are keeping prices down." "In the longer run, the Fed wants inflation to run slightly above 2% because it's been consistently below target." "The Fed is not anticipating inflation running out of control." "The Fed knows the tools to deal with higher inflation." "News on Johnson & Johnson vaccine could fuel more vaccine hesitancy." "If we… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
