How the Federal Reserve’s new policy framework translates to the actual monetary policy will depend on the circumstances, New York Federal Reserve Bank President John Williams said on Wednesday.
“The Fed is not tied to any particular natural rate of unemployment but looking at a broad set of indicators,” Williams further added and noted that that the US has reached 2% inflation briefly but the challenge was sustaining at 2%.
Market reaction
The greenback continues to gather strength against its rivals during the American session and the US Dollar Index was last seen gaining 0.6% on the day at 92.85.
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