Fed's Barkin: Fed making real progress on inflation mandate

The US Federal Reserve is making real progress on the inflation mandate, Richmond Federal Reserve Bank President Thomas Barkin said on Friday, as reported by Reuters.

Additional takeaways

"To boost women's participation, US needs to solve the issue of affordable child care."

"Jobs report is nowhere near what was expected."

"Anecdotally seems that employers paying more than $15 an hour for entry-level jobs have less trouble hiring."

"We are still waiting for substantial further progress on employment to population ratio."

Market reaction

The greenback remains on the back foot after these comments and the US Dollar Index was last seen losing 0.5% on the day at 90.43.