Fed's Daly: Fed will look through temporary rise in inflation

In an interview with Fox Business Network on Thursday, San Francisco Federal Reserve President Mary Daly noted that they are not expecting to achieve either of the Federal Reserve's goals in 2021, as reported by Reuters.

"The Fed expects a temporary rise in inflation this year but will look through that," Daly added and said that she sees infrastructure investment as boosting the potential economic output.

Market reaction

The greenback continues to weaken against its rivals after these comments. As of writing, the US Dollar Index was down 0.33% on a daily basis at 92.92.