The U.S. dollar firmed against its major counterparts on Thursday, supported by hawkish comments from some Federal Reserve officials, including St. Louis Federal Reserve President James Bullard.
In remarks at an event hosted by Greater Louisville Inc., Bullard suggested the central bank's aggressive interest rate hikes have had "only limited effects on observed inflation."
Bullard noted that the policy rate is not yet "sufficiently restrictive" and highlighted a dovish scenario that could take the funds rate to 5% and a hawkish rate at 7%.
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.