USD Slide Slows Down After Mixed Signals over Fed’s Plans

The dollar continued trading lower against most of its major counterparts, but the slide slowed, perhaps due to mixed signals on the Fed’s policy plans. Although Fed Chair Powell reiterated that some accommodation may be appropriate, Atlanta President Bostic and Richmond President Barkin saw no clear need for the Fed to ease. The core CPI rate ticked up to +2.1% yoy from +2.0%, also tempering expectations with regards to aggressive cuts.

Powell Reiterates Need for Easing, Bostic and Barkin Disagree