Fed's Barkin: Can argue inflation has reached substantial progress

Richmond Fed President Thomas Barkin told MNI Market News on Tuesday that it could be argued inflation has reached substantial progress, as reported by Reuters.

Additional takeaways

"Looking closely at rents, demand for goods to gauge inflation."

"Would be ready to start tapering as soon as substantial further progress on employment has been met."

"I have a preference for the least drama way of tapering."

Market reaction

The greenback continues to outperform its major rivals following these remarks and the US Dollar Index was last seen rising 0.25% on the day at 92.10.