Fed’s Powell: We have not seen much progress in the way of services inflation

  • A strong majority of FOMC feels there is a little further to go with rate hikes
  • We kept rates on hold to give ourselves more time to make decision
  • Paper losses on our balance sheet have no effect on our ability to do monetary policy
  • Headline inflation has come down but that’s largely from energy and food, not principally a function of monetary policy
  • We still have a long way to go
  • I see a path for inflation to continue falling with little increase in unemployment

USD/JPY is making a move at the moment, as it finds blue skies, technically.

This article was written by Adam Button at www.forexlive.com. Source