Fed's Daly: Fed will look through temporary rise in inflation

Eren Sengezer FXStreet

In an interview with Fox Business Network on Thursday, San Francisco Federal Reserve President Mary Daly noted that they are not expecting to achieve either of the Federal Reserve's goals in 2021, as reported by Reuters.

"The Fed expects a temporary rise in inflation this year but will look through that," Daly added and said that she sees infrastructure investment as boosting the potential economic output.

Market reaction

The greenback continues to weaken against its rivals after these comments. As of writing, the US Dollar Index was down 0.33% on a daily basis at 92.92.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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