The dollar has edged marginally higher against a basket of currencies this morning after ‘hawkish’ comments from Federal Reserve officials.
Atlanta Fed President, Raphael Bostic, and Fed Governor, Michelle Bowman, said the recent surge in consumer prices may well be temporary in nature, but they will take longer than expected to subside. Bostic also said that he expects interest rates will need to be hiked during the latter half of next year.
This differs from Fed Chair, Jerome Powell, who has downplayed the risks of rising inflation.
Several more Fed officials are expected to speak today and weekly jobless claims figures will be released later.
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