Dollar holds near one-month high with focus on Fed’s inflation take
With spending rotating back to services from goods as vaccinations allow Americans to travel and engage in other activities, the data cemented the perception of a strong recovery in the economy.
Separate data showed wholesale price inflation accelerated to 6.6%, the largest gain since November 2010.
Last week, consumer price data showed the sharpest rise in more than a dozen years, but hefty contributions from short-term increases in airline ticket prices and used cars suggested those price pressures may not last.
The Federal Reserve is widely expected to acknowledge the first conversations among its policymakers about when and how fast to pare back the massive bond-buying program launched in 2020 when it concludes a policy meeting later in the day.
Yet most investors think the Fed will refrain from any hints of starting tapering its stimulus in the near future.
“The Fed has said they’re…