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US inflation to 2% is crucial

US inflation to 2% is crucial | 23 June 2023

23 June 2023, USD/JPY

USDJPY trading plan:

Federal Reserve Chair Jerome Powell said returning US inflation to 2% is crucial to support the long-term health of the US economy, and that more interest-rate increases may be needed this year. Policymakers feel “it will be appropriate to raise rates again this year, and perhaps twice,” if the economy performs about as expected, even as they’ve been hiked to an appropriately restrictive level, Powell told the Senate Banking Committee. The central bank was laser focused on reducing elevated inflation back to target despite Democrat lawmakers’ concerns that tighter credit will push up unemployment.

Investment idea: buy 142.98 and take profit 143.64.

David Johnson
Analyst of «FreshForex» company
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