Fed official Bowman: Inflation down, but still too high

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Federal Reserve Governor Michelle Bowman said at the Fed Listens event on Thursday that US inflation has come down but is still too high.

Somewhat surprising to the market, however, is that the relative strength in goods spending has persisted rather than returning to pre-pandemic trends.

This pattern of goods spending in the United States is also unusual compared with other advanced economies, where the composition of goods and services spending appears to have returned to historical norms.

At press time, the US Dollar Index was down 0.02% on the day at 106.54.