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Federal Reserve (Fed) Governor Michelle Bowman said Wednesday that inflation progress slows and possibly halts. Bowman further stated that monetary policy is currently restrictive and time will tell if it is "sufficiently" restrictive.
Key quotes
“Inflation progress slows and possibly halts.”
“Strength of consumer spending tied to ongoing job growth.”
“Monetary policy currently restrictive; time will tell if it is "sufficiently" restrictive.”
“Consumers are turning to cheaper goods, but still spending heavily on travel for eclipse viewing.”
Market reaction
The US Dollar Index (DXY) is trading 0.01% higher on the day at 105.95, as of writing.
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