Fed's George: We are forecasting in a bit of a fog
|Kansas City Fed President Esther George said on Friday they are forecasting in a bit of fog, as reported by Reuters.
Additional takeaways
"The cost of being wrong is high; need to look at various possible scenarios."
"Policy choice to use MBS purchases is not around the allocation of credit."
"MBS and treasuries have been part of the mix of Fed's purchases for a long time."
"Would not want to pivot on mix of asset purchases."
Market reaction
The US Dollar Index clings to daily gains following these comments and was last seen rising 0.3% on the day at 93.36.
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