Richmond Federal Reserve President, Thomas Barkin, he reiterated on Friday that the Fed will do what is necessary to bring inflation back in line with target, but acknowledged that this will not happen immediately, Reuters reported.
Barkin explained that they are starting to see a “precautionary” reduction in business investment. He said “there is no need for a major reduction in economic activity to return to normality”.
The IS dollar rising significantly on Friday, with DXY above 108.00, a one-month high. At the same time, sovereign bond yields rise and anticipation of further increases in interest rates from the Federal Reserve and the European Central Bank.
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