Atlanta Fed President Raphael Bostic told NPR on Friday that it was not an easy decision to raise the policy rate, as reported by Reuters.

Additional takeaways

"Clear signs banking system is safe and resilient."

"Inflation still too high, Fed needed to remain focused on that."

"Comfortable Fed can navigate banking sector troubles."

"Fed has to get inflation under control."

"Not expecting economy to fall into recession."

Market reaction

These comments don't seem to be having a significant impact on the US Dollar's performance against its rivals. At the time of press, the US Dollar Index was up 0.55% on the day at 103.15.