Fed’s Powell: Strongly commited to return inflation to 2% goal
|Federal Reserve Chairman Jerome Powell said on Friday that inflation is far above the objective and that high inflation poses significant hardships.
Powell emphasized the central bank's strong commitment to returning inflation to its 2% goal during the Thomas Laubach Research Conference, adding that "price stability is the foundation of a strong economy."
Market reaction
So far, Powell’s remarks have no impact on markets. The US Dollar is pulling back after rising sharply on Thursday. The DXY is hovering around 103.40, down 0.10% for the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.