Fed's Barkin: There will be price pressure in spring given pent-up demand

Richmond Federal Reserve President Thomas Barkin told Bloomberg TV on Monday that they expect to see price pressures in spring given the pent-up demand and excess savings, as reported by Reuters.

"The demand for goods has put some manufacturers behind the curve," Barkin further added. Regarding the Fedwire outage seen last week, Barkin noted that it was an internal error.

Market reaction

These comments don't seem to be having a meaningful impact on the greenback's performance against its rivals. As of writing, the US Dollar Index was up 0.13% on the day at 90.99.