Search ForexCrunch

Commenting on the Federal Reserve’s monetary policy actions, “This year’s interest rate cuts have been very effective,” said  John Williams, president of the Federal Reserve Bank of New York and noted that the policy is now well-positioned.

“The US  economy is in a very good place,” Williams stated. “The Fed is very close to achieving the 2% inflation goal on a sustained basis.”

These comments had little to no effect on the USD’s market valuation. As of writing, the US Dollar Index was virtually unchanged on the day at 97.80.