“I hope we can make a lot of progress this year on jobs, it will depend on vaccines and the coronavirus,”  Minneapolis Federal Reserve President Neel Kashkari said on Friday, as reported by Reuters.

Additional takeaways

“Would be great to get back to full employment by 2023.”

“We need to get back to where we were before the pandemic and need to go beyond that.”

“When labor market gets tight enough that wage growth picks up, get 2% inflation, that’s full employment.”

“Not concerned about inflation.”

“Not concerned about the Fed’s ability or willingness to deal with high inflation; we need to get there.”

“10-year real yield is basically flat from where it was last summer.”

“An uptick in real yields would give me concern, could warrant a policy response but not seeing that.”

“Recent movements in Treasury market suggest that Fed’s framework is delivering what we wanted.”

“Not concerned about the wartime COVID spending we need to do right now.”

Market reaction

The US Dollar Index largely ignored this report and was last seen gaining 0.37% on a daily basis at 91.97.

This article was originally published by Fxstreet.com.Read the original article here.


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