Richmond Federal Reserve Bank President Thomas Barkin said on Thursday that the latest inflation data did not increase his confidence that disinflation is spreading in the economy, per Reuters.

Key takeaways

"Latest inflation data looks like disinflation did at end-2023, with goods prices falling, shelter moving sideways and services increasing."

"Fed is not yet where we want to be on inflation, though headed in the right direction over a longer time frame."

Market reaction

The US Dollar preserves its strength after these comments and was last seen gaining 0.08% on the day at 105.27.