Fed’s Bostic: Fed likely to remain in restrictive territory well into 2024

Atlanta Federal Reserve Bank President Raphael Bostic said on Friday to Bloomberg, that the central bank is likely to keep monetary policy in a restrictive territory well into 2024. He added that the Fed is on a trajectory to get to the 2% inflation target.

Asked about the recent jobs report, Bostic mentioned they were as expected and he was comfortable with the readings.

Market reaction:

The US Dollar is falling on Friday following the July NFP. Comments from Fed officials have no significant impact. The DXY is falling 0.60%, trading below 102.00.

Aug 4, 2023

Fed’s Goolsbee: We should start thinking about how long to hold rates

According to Federal Reserve Bank of Chicago President Austan Goolsbee, they should start thinking about how long to hold rates. In an interview with

USD/MXN: Q3 and Q4 forecast reduced to 17.50 and 18.00 – CIBC

Economists at CIBC Capital Markets expect the USD/MXN pair to extend its decline in the coming months. Long MXN positions look overstretched by a numb