Commenting on the inflation outlook, Federal Reserve Bank of Chicago President Austan Goolsbee said on Monday that they are "in a bit of a murky period."

Key quotes

"It doesn't feel like the story fundamentally changed."

"The Fed has to strike a balance with its dual mandate."

"We need to see progress in inflation coming down."

"The main puzzle with inflation is housing."

"Three cuts in 2024 was in line with my thinking."

Market reaction

The US Dollar Index stays under modest bearish pressure and was last seen losing 0.24% on the day at 104.18.