Magnifying glass on market graphs
Markets

Fed's Powell: "We should be on program of gradual hikes"

Inflation should rise to 2% Fed target as headwinds fade

It is FOMC's member Powell's turn to get his two cents in during interview on Bloomberg:

  • The US dollar is a consideration when debating rate hikes. SOmething to watch. Not a concern
  • Support gradual rate hikes.
  • Should raise rates as global economy warrant
  • There is no preset course for rates
  • We're being data-driven patient and a bit cautious; our caution is appropriate
  • GDP growth is very volatile on quarterly basis
  • Growth is strong enough to support a label market
  • There is some slack in the labor market

The USDJPY has hit a two week high (highest level since August 12) on more hawkish comments from Powell.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

ForEx