Fed's Bostic: Phase of high inflation to be longer than initially expected

"Phase of high inflation will be longer than we expected initially, perhaps 6 to 9 months instead of 2 to 3," Atlanta Federal Reserve President Raphael Bostic told the NPR on Wednesday, as reported by Reuters.

"7.5 million jobs still lost from the pandemic is a benchmark the Fed needs to watch," Bostic added. "The Fed should avoid declaring victory prematurely in any policy pivot."

Market reaction

These comments don't seem to be having a significant impact on the USD's performance against its rivals. As of writing, the US Dollar Index was virtually unchanged on the day at 91.72.