In an interview with Yahoo Finance on Thursday, Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee noted that they have had multiple months of better inflation data. Goolsbee noted that he feels a lot better on inflation but added that the fight is not done yet.

Key takeaways

"The labor market has been cooling to better balance."

"The cooling job market is definitely an area of concern."

"This is what the path to 2% inflation looks like."

"In real-rate terms, we have tightened substantially."

Market reaction

The US Dollar Index edged slightly higher following these comments and was last seen rising 0.25% on the day at 104.00.