In the Asian session on Friday (June 2), the U.S. dollar index fell back from a high, with the latest price of the U.S. dollar at 104.19, a drop of 0.04%. Bullard believes that inflation has fallen, but the overall level is still too high.
The latest from the Federal Reserve:
The prospect of cooling inflation is good, but it is not a very certain thing, and we need to continue to be vigilant. Bullard said interest rates are at the low end of a sufficiently restrictive range given current macroeconomic conditions. According to the analysis, the current monetary policy is much more appropriate than a year ago. Where should the policy rate be within the sufficiently bounded range? Are there other factors to consider? “This assessment is likely to be reflected in the Fed‘s future judgment,” Bullard said.
