Fed's Kashkari: Expecting some of very high inflation readings to return to normal

The US economy is at the beginning of a very strong recovery, Minneapolis Federal Reserve President Neel Kashkari said on Friday, as reported by Reuters.

Additional takeaways

"We are still in a deep hole."

"Expecting to see some of the very high inflation readings to return back down to normal."

"I believe millions of Americans on the sidelines of the labor market will return."

"Maximum employment at a minimum means returning to the pre-COVID level of employment."

Market reaction

These comments were largely ignored by market participants and the US Dollar Index was last seen losing 0.23% on the day at 91.60.