Fed's Bostic: Sceptical inflation expectations are weak

While speaking at an economics conference organized by the Federal Reserve Bank of Atlanta, the bank's president, Raphael Bostic, said that the Fed is in a good position right now on both jobs and inflation and argued recent low readings on inflation are "noisy," while other data suggest that the Fed is "close to" its 2% target and not slipping away from it, per Reuters.

"I'm also sceptical inflation expectations are weak," Bostic added. The US Dollar Index didn't react to these remarks and was last virtually flat on the day at 97.07.