Federal Reserve (Fed) Vice Chair Philip N. Jefferson said on Tuesday that some measures of economic uncertainty, particularly for inflation, are elevated, per Reuters.

"The uncertainty around inflation persistence may warrant stronger policy response than otherwise," Jefferson added and explained that policy decisions taken under uncertainty may look different from those optimal under certainty.

Market reaction

The US Dollar stays under modest bearish pressure following these comments. As of writing, the US Dollar Index was down 0.15% on a daily basis at 105.50.