- The unemployment rate could go to 3.5% and be consistent with inflation still struggling to reach 2%.
- Still, early days to think that recent inflation increases will work their way into inflation expectations.
- Fed would have probably done what it did with asset purchases even without the new framework.
The US Dollar Index held on to its modest intraday gains just below mid-93.00s, or one-month tops and was supported by the ongoing surge in the US Treasury bond yields/prospects for an early Fed rate hike.
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