In the Asian session on Monday (April 3), the U.S. dollar index rose, with the latest price of the U.S. dollar at 102.83, an increase of 0.23%. Fed Governor Waller said on Friday that recent data was consistent with the view that the central bank may be able to bring down inflation without seriously hurting the labor market.
Waller said that if people do start to believe that prices will continue to rise, beating high inflation may require significant action by the Fed to shatter those expectations. “There’s some evidence for the theory that if what’s driving the price increase is a sudden increase in how often businesses adjust prices, then inflation can come down quickly with relatively little pain from rising unemployment,” he said. “Recent data are consistent with that view.” Waller said more data is needed to figure out which claim is true.
