US Treasury Sec. Yellen: We are creating jobs at a very rapid pace
Source Fxstreet
US Treasury Secretary Janet Yellen said on Thursday that a significant share of remaining inflation represents housing costs returning to normal slowly, per Reuters.
Key takeaways
"We are creating jobs at a very rapid pace."
"Unemployment rate has drifted up a little bit, the labor market has become a little less hot, a little more normal."
"Labor market is now resembling pre-pandemic."
"Wages are not a threat to contribute to inflation."
"Substantial lock-in effect is limiting supply of homes on the market."
Market reaction
The US Dollar Index showed no reaction to these comments and was last seen gaining 0.25% on the day at 104.95.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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The US Dollar Index (DXY) trades around 99.95 at the time of writing on Friday, virtually unchanged on the day, as investors refrain from placing aggressive bets ahead of the release of the July US employment report.
