President of the Federal Reserve System in Atlanta Raphael Bostic he said on Friday that monetary policy is in the right place for the economy view. He added that he may support keeping interest rates stable for about 8 to 10 months.
In an interview with Bloomberg TV, Bostic mentioned that he does not foresee a recession. “I welcome more modest wage gains.”
Market reaction
The US dollar is holding on to daily and weekly losses following the Nonfarm Payrolls report and expectations that the Federal Reserve is done raising interest rates. The DXY is hovering around 105.10, on track for its lowest weekly close since September.
