Breaking: Powell repeats they are long way from Fed goals, USD edges higher alongside yields
|While speaking at the Wall Street Jobs Summit on Thursday, FOMC Chairman Jerome Powell reiterated that they are still a long way from the Federal Reserve's inflation and employment goals.
Market reaction
With the initial market reaction, the 10-year US Treasury bond yield turned positive on the day and the US Dollar Index edged higher to 90.15, where it was up 0.2% on a daily basis.
Additional takeaways
"While there are still risks, there is good reason to expect job creation will pick up in coming months."
"As the economy picks up, inflation is expected to move up."
"It's unlikely that deeply ingrained low inflation expectations would change."
"It's more likely inflation increases will be one-time."
"Fed will use its tools to achieve inflation goal."
"It will take some time to get back to max employment."
"There's a lot of ground to cover to get back to max employment."
"We have a high standard for identifying max employment, will take some time to get there."
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