Fed's Powell: "We should be on program of gradual hikes"
2016-08-26 0 comments admin Online Forex Trading
Inflation should rise to 2% Fed target as headwinds fade
It is FOMC's member Powell's turn to get his two cents in during interview on Bloomberg:
- The US dollar is a consideration when debating rate hikes. SOmething to watch. Not a concern
- Support gradual rate hikes.
- Should raise rates as global economy warrant
- There is no preset course for rates
- We're being data-driven patient and a bit cautious; our caution is appropriate
- GDP growth is very volatile on quarterly basis
- Growth is strong enough to support a label market
- There is some slack in the labor market
The USDJPY has hit a two week high (highest level since August 12) on more hawkish comments from Powell.