Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee told CNBC on Monday that the Fed's monetary policy is restrictive and added that slowing inflation data would open the door to an easier policy, per Reuters.

Key takeaways

"Optimistic we'll see improvement in inflation data."

"Hopeful Fed will get more confidence inflation heading back to 2%."

"Economy outside of inflation data showing signs of cooling."

Market reaction

The US Dollar stays under modest bearish pressure following these comments. At the time of press, the USD Index was down 0.25% on the day at 105.55.