USD/JPY reclaims the 137.00 figure after Powell’s speech strengthens the US dollar – by christianborjon USDJPY Majors CentralBanks Fed
s favorite inflation gauge showed signs that prices are getting lower, meaning rate hikes are working.
The Fed Chair added that restoring price stability will take some time while emphasizing that the Fed needs to get to restrictive levels, to return inflation to the 2% target. Powell added that the Federal funds rate at a long-run neutral estimate of 2.25% - 2.50% is “not a place to stop or pause.” Albeit mentioning that the Fed will slow the pace of rate hikes, he emphasized that restoring price stability would require keeping a restrictive policy for “some time.”
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