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While speaking to a group of local business and community leaders at the Federal Reserve System’s Fed Listens program, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, repeated that the Fed’s strategy and tools have been, and remain, effective.

“It’s important for the Fed to keep inflation around the target so there is room to move monetary policy and to keep expectations anchored,” Powell added. “Historically  strong job market is benefitting low and moderate-income communities.”

The US Dollar Index largely ignored these comments and the US Dollar Index was last down 0.05% on the day at 99.07.