On Tuesday, Federal Reserve Bank of Philadelphia President Patrick Harker said “My best guess is we will remove about $2.5 trillion from the balance sheet overall but data will guide us,”.
“We want to reduce the balance sheet methodically until we start to see where we need to stop,” Parker added and noted he is not overly worried about inflation expectations while adding that they are moving in the right direction.
Following these comments, the US dollar has maintained negative performance, and the Dollar Index was last seen losing 0.85% on the day at 106.05. The USD Index (DXY), which tracks the US currency versus its main rivals, resumes the intense leg lower and retests the 105.30 region on Tuesday.
Additional Quotes
“I don’t like to base policy on a couple of headline numbers.”
“As long as we’re moving consistently to collapse inflation down, we can pause.”
“I don’t want to move interest rates way up and then way down.”
“We need to balance minimizing job losses while getting inflation under control.”
“I think that outcome is still possible.”
Tags FED Harker inflation US dollar index
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