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Powell afraid to raise rates?

Powell afraid to raise rates? | 23 October 2023

23 October 2023, USD/JPY

Powell afraid to raise rates?

USDJPY trading plan:

The U.S. economy's strength and continued tight labor markets could warrant further Federal Reserve interest rate increases, Fed Chair Jerome Powell said in remarks that appeared to push back against market expectations that the U.S. central bank's rate hikes had reached an end. Powell said U.S. central bankers are moving carefully on policy now after aggressive rate hikes last year to give time for tighter conditions to slow the economy and inflation. Quite clear that the market is reading into Powell's comments on tighter financial conditions potentially leading to the tightening cycle being done and dusted. Obviously other FOMC officials have said similar, but hearing so 'from the horse's mouth' gives the statement extra credibility.

Investment idea: sell 150.22 and take profit 149.70.

David Johnson
Analyst of «FreshForex» company
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