Fed’s Kaplan: Willing to have little more inflation for labour market to strengthen

Dallas Federal Reserve Bank President Robert Kaplan said on Friday that he would prefer to wait for more clarity on the path of the virus before the Fed gives more forward guidance.

Additional takeaways

"Economy had a pretty robust rebound through June, then a slowdown but economic data firmed in recent weeks."

"Unemployment rate could end the year closer to 8% unless there is a greater resurgence of the virus."

"Willing to have a little more inflation in order for the labour market to strengthen and bring in underrepresented groups."

Market reaction

The US Dollar Index continues to push lower and was last seen losing 0.85% on the day at 92.21.

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