Fed's Bostic: Pent-up demand will put upward pressure on prices

The pent-up demand in the US will put upward pressure on prices, Atlanta Federal Reserve President Raphael Bostic told CNBC on Monday, as reported by Reuters.

Additional takeaways

"We will see a lot of change in the market over the summer."

"Will be looking at how rapidly the economy recovers."

"A healthy level of inflation is a sign that the economy is healthy and growing."

"Not so much worried about housing dynamics right now."

"Will be watching lumber markets, pricing pressures over summer."

"Hopeful will see a more rational housing market in months to come."

"Until we make substantial progress to close the unemployment gap, we need strong policies."

Market reaction

The US Dollar Index stays flat on the day near 90.30 after these comments.