Fed's Bostic: Pressure on Fed will be “enormous” if unemployment starts to rise, inflation remains sticky
|“Fed will have to stay ‘super strong’ in its inflation commitment,” said Federal Reserve (Fed) Bank of Atlanta President Raphael Bostic while participating in a conference hosted by the Federal Reserve Bank of Atlanta.
Additional comments
Fed is ‘far beyond success’ on its employment mandate, a ‘bit of pulling back’ in the aid of lowering inflation is ‘justifiable and appropriate’.
Wages didn't fully catch up to inflation in 2022.
This year another round of raises, less than the previous year.
Still some way to go until inflation is beaten.
Market reaction
Given the unimpressive statements and the early hours of the Asian session, market players fail to react to the statements. Even so, the US Dollar grinds higher after reversing the week-start losses.
Also read: Forex Today: Higher US yields, risk aversion lead to a stronger US Dollar
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