Chart Look at USDX, Yields, Gold & Bitcoin
The ongoing rise in the US dollar corresponds with a change in tone at the Fed. The talk of doing more is done and hints of tightening have begun.
Bostic on Monday angled to give the Fed more flexibility, saying policymakers aren't 'locked into a paradigm' and that changes are possible to the playbook if the economy recovers faster.
The Fed is also grappling with a looming bump in headline inflation in Q2. Because of base effects, year-over-year price rises in the quarter will be high and likely above the Fed's target. Looking through that is understandable but the pressure on the Fed will mount.
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