In the Asian session on Tuesday (May 23), the U.S. dollar index first rose and then fell. The latest price of the U.S. dollar was 103.20, a decrease of 0.04%. Bullard, a hawkish Fed official, expects two more rate hikes this year to curb inflation.
Fed Daly said that it is temporarily unable to judge the policy action in June and needs to observe more data. The Fed’s Kashkari said it was open to pausing interest rate hikes next month, but cautioned against over-interpreting it as the end of the rate hike cycle. Daly declined to say what actions the Fed should take at the June meeting, stressing the need to observe more data, hoping to see the core inflation indicators fall further, and the effect of tightening credit is equivalent to several additional interest rate hikes. Bostic said there is a lag in Fed policy action and he is willing to wait “for a while” to see how the economy performs. Richmond Fed President Barkin also said he would not prejudge the June policy decision.
