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Powell did give a nod to disinflation

Powell did give a nod to disinflation | 02 February 2023

02 February 2023, USD/JPY

Powell did give a nod to disinflation

USDJPY trading plan:

Federal Reserve Chairman Jerome Powell said he is not fully sure where the central bank will stop with rate rises as it presses forward with its efforts to cool inflation. "There is more work to do" and the Fed has not decided where it will stop rate rises, with the possibility the Fed will go above the 5.1% federal funds rate it penciled in as a terminal rate in its December forecasts, he said in a press conference following the Federal Open Market Committee meeting. The Federal Reserve raised its target interest rate by a quarter of a percentage point on Wednesday, yet continued to promise "ongoing increases" in borrowing costs as part of its still unresolved battle against inflation.

Investment idea: sell 129.25 and take profit 128.22.

David Johnson
Analyst of «FreshForex» company
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