Federal Reserve (Fed) Governor Adriana Kugler said on Saturday that inflation remains alarmingly above the Fed’s target, but the central bank is working on it, according to Reuters.

Key quotes

Of course, our work is not over.

We haven’t reached the 2% mark yet, so we’re definitely still working towards that mark and we know the work isn’t done yet.

The U.S. economy ended 2024 in a good place.

Inflation is falling.

It says it suspects pressures from housing market inflation and non-market services inflation are unfavorable.

They want to avoid a pointed boost in unemployment.

Market reaction

The US Dollar Index (DXY) is 0.01% higher at 108.95 at the time of writing.