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.
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