Fed's Barkin: Q2 will be peak for GDP growth and inflation

In an interview with the MNI Markets News on Tuesday, Thomas Barkin, President of the Richmond Federal Reserve Bank, said that the second quarter will be the peak for the Gross Domestic Product (GDP) growth and inflation in the US.

Barkin further noted that he expects to see price increases in some sectors reverting, as reported by Reuters.

Market reaction

These comments were largely ignored by market participants and the US Dollar Index was last seen rising 0.32% on the day at 92.18.