Fed´s Bostic: Economy still has lots of momentum, inflation is too high

Ross J Burland FXStreet

Raphael W. Bostic, president, and CEO of the Federal Reserve Bank of Atlanta said that his baseline forecast does not include a recession.

Key comments

I hope I'm wrong and inflation will come down faster.

It will take some time for inflation to return to target.

My baseline is to keep rates unchanged after the next hike.

There is still work to be done in the area of monetary policy.

The economy is still gaining momentum, but inflation is too high.

Tighter credit conditions could help do fed's work.

‘Acute tensions’ in banking system are going down.

US Dollar update

The US Dollar fell against most major currencies on Tuesday after better-than-forecast growth data from China. DXY, a measure of the greenback vs. a basket of currencies is down some 0.3% to 101.80 currently from a high of 102.14.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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