In an interview with Bloomberg TV on Friday, Philadelphia Fed President Patrick Harker said that there are some risks to keeping rates too low for too long but added that it’s situational, as reported by Reuters.
Additional takeaways
“I want to hold steady until we get through this.”
“We could reach herd immunity in the fall.”
“It’s a good sign in some ways that 10-year yields are going up because people are more optimistic.”
“Committed to letting inflation rise above 2% for some time.”
“Wage pressures are happening in certain sectors, not across the board.”
Market reaction
These comments don’t seem to be having a significant impact on the greenback’s performance against its major rivals. As of writing, the US Dollar Index was unchanged on the day at 92.84.
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