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Rates are not likely to be cut

Rates are not likely to be cut | 11 August 2022

11 August 2022, GBP/USD

Rates are not likely to be cut

GBPUSD trading plan:

Minneapolis Federal Reserve Bank President Neel Kashkari on Wednesday said he is sticking to his view that the U.S. central bank will need to raise its policy rate another 1.5 percentage points this year and more in 2023, even if that causes a recession. Kashkari said he hasn't "seen anything that changes" the need to raise the Fed's policy rate to 3.9% by year-end and to 4.4% by the end of 2023. The rate is currently in the 2.25%-2.5% range. Although Kashkari acknowledged that raising rates so quickly could push the economy into recession, and that a recession could even occur in the "near future," he said that risk will not deter him. "We have to get back to 2%" inflation, he said.

Investment idea: range 1.2180 -1.2270.

David Johnson
Analyst of «FreshForex» company
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