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Fed Chair Jay Powell’s comments was quite hawkish

Fed Chair Jay Powell’s comments was quite hawkish | 03 November 2022

03 November 2022, GBP/USD

Fed Chair Jay Powell’s comments was quite hawkish

GBPUSD trading plan:

The Federal Reserve raised interest rates by three-quarters of a percentage point as it continued to battle the worst outbreak of inflation in 40 years, but signaled future increases in borrowing costs could be made in smaller steps to account for the "cumulative tightening of monetary policy" it has enacted so far. The policy decision set the target federal funds rate in a range between 3.75% and 4.00%, the highest since early 2008. The U.S. central bank has raised rates at its last six meetings beginning in March, marking the fastest round of rate increases since former Fed Chair Paul Volcker's fight to control inflation in the 1970s and 1980s.

Investment idea: range 1.1350 -1.1450.

David Johnson
Analyst of «FreshForex» company
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