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William Poole, president of the Federal Reserve Bank of St. Louis, is known as an inflation hawk. He is also one of the 20 most influential people in Foreign Exchange markets. So when he speaks, sometimes the market moves. When the non-farm payroll number was less than expected, the market was wondering if the Fed would be able to raise interest rates more quickly than the quarter point "measured pace" of the past few months. Poole's remarks seem to indicate a yes, to the hyper imagination of the currency market.
Lately, remarks from the Fed have been bullish for the dollar. With several appearances from Alan Greenspan this week, I predict a good week for the greenback.
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