"We don't think a recession is imminent, there is no reason to expect this expansion cannot continue," Federal Reserve Vice Chairman Richard Clarida said on Thursday while responding to questions after delivering his prepared remarks at an event in New York.

" It's indisputable that neutral rates are lower and that current monetary policy is accommodative," Clarida noted. "The 2% inflation target is not a ceiling and framework review could include an element of average inflation targeting.

In the meantime, the US Dollar Index stays quiet near 97.40, looking to extend its rally into a third straight day.