Fed's Bostic: Worried about inflation getting entrenched

Atlanta Federal Reserve President Raphael Bostic noted on Friday that he is worried about inflation getting entrenched, as reported by Reuters.

"Right now, the dashboard of inflation is not flashing red or suggesting things are getting out of control," Bostic added. "If we see good progress and the economy can stand on its own, I'd be in favour of getting to a more normalized policy. W will want to see how this evolves over the coming months."

Market reaction

The US Dollar Index continues to inch higher and was last seen gaining 0.36% on a daily basis at 90.07.