Fed’s Bostic: I may support holding rates for about 8 to 10 months

Atlanta Federal Reserve President Raphael Bostic said on Friday that monetary policy is in the right place given the economic outlook. He added he may support holding interest rates steady for about 8 to ten months. 

In an interview with Bloomberg TV, Bostic mentioned that he does not see a recession ahead. “I welcome more moderate wage gains”. 

Market reaction

The US Dollar is holding onto daily and weekly losses following the Nonfarm Payrolls report and as expectations that the Federal Reserve is done raising interest rates. The DXY is hovering around 105.10, on its way to the lowest weekly close since September.