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‘Dollar appreciation is a drag’ – Fed’s Brainard

FXStreet (Mumbai) - FOMC member Lael Brainard is now crossing the wires via Reuters, noting that the future course of monetary policy is highly dependent on the incoming data while acknowledging that the recent developments in the US economy have been very encouraging. He also pointed out that an appreciating US currency remains a drag on the overall economic outlook.

Key Quotes:

“There are some aspects of U.S. outlook that are encouraging”

“There is some slack but we made progress”

“Improvement in labour mkt extremely steady”

“Core inflation has remained below tgt range, we have been carefully monitoring”

“Some measure of inflation compensation have dipped lower”

“Dollar appreciation is a drag, we have seen by that measure material tightening in U.S.”

“Mon policy very dependent on incoming data”

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