Fed's Bowman: Inflation has come down but remains too high

Lallalit Srijandorn FXStreet

Federal Reserve (Fed) Governor Michelle W. Bowman commented at a Fed Listens event on Thursday that inflation in the US has come down but is still too high.

Key quotes

“What has been somewhat surprising, however, is that the relative strength in goods spending has persisted, rather than reverting to its pre-pandemic trends.”

“This pattern we see in the US is also unusual relative to other advanced economies, where the composition of goods versus services spending appears to have returned to historical norms.”

Market reaction

At the time of press, the US Dollar Index was down 0.02% on the day at 106.54.

Author

Lallalit Srijandorn

FXStreet

Lallalit Srijandorn is a Parisian at heart. She has lived in France since 2019 and now becomes a digital entrepreneur based in Paris and Bangkok.

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