Federal Reserve Governor Philip Jefferson said on Monday that it is possible for inflation to decline without an unnecessary amount of disruption in the job market, as reported by Reuters.
“More people do better in the US when there are periods of low inflation and sustained growth.”
“Important to get back to 2% inflation to allow those sorts of sustained economic gains.”
“Inflation is too high and that is hard for people across the demographic spectrum.”
“Lower inflation is a prerequisite for long-term prosperity.”
“Right now the labor market is very strong with demand for workers high relative to supply.”
“Pandemic has had a substantial impact on labor supply.”
“Fed’s commitment is to sustain a firmer posture so the economy can adjust, and supply and demand move into better balance.”
The US Dollar stays under modest bearish pressure following these comments and the US Dollar Index was last seen losing 0.35% on a daily basis at 104.88.