Fed's Bostic: US economy is definitely slowing

Atlanta Federal Reserve bank president Raphael Bostic said on Friday that how the economy evolves will shape what the Federal Reserve has to do, as reported by Reuters.

Key takeaways

"The US economy is definitely slowing."

"Housing and other interest rate sectors have seen significant slowing, business leaders see labor markets easing."

"It's still not easy to find workers but it is easier."

"Slowing so far is at a steady, gradual pace, so demand-supply imbalance is not changing rapidly, process will take some time."

"The US has a lot of momentum to absorb tje Fed policy and avoid a significant contraction."

Market reaction

The US Dollar continues to weaken against its rivals following these comments and the US Dollar Index was last seen losing 0.9% on a daily basis at 104.20.