untitled design

Powell Offers No Surprises, Risk Assets Back in Positive Territory

In an interview in the Wall Street Journal, Federal Reserve Chairman Jerome Powell he said Tuesday that US central bank officials will keep tightening policy until inflation comes down “convincingly.”

“There have been some promising signs to point to,” Powell told a Wall Street Journal conference. But, he added, “there are some signs that are not so promising.”

Risk assets came under pressure during the event and the US dollar was thrown into a shorter bullish environment on the charts by hawkish rhetoric from the Fed chairman who said there is a dire need to get inflation under control.

His aggressive rhetoric pushed the S&P 500 back toward daily lows, but the index has since clawed back to a daily high as markets digest the chairman’s comments signaling that the Fed will slow the pace of rate hikes depending how conditions evolve. These decisions will be made meeting by meeting.

The US dollar has also retreated after the interview:

Source: Fx Street

You may also like

Discover the health benefits of cod
Top News
David

Discover the health benefits of cod

At Easter Friday , many Christian families choose not to eat red meat, prioritizing only fish and seafood. Among them,

Get the latest

Stay Informed: Get the Latest Updates and Insights

 

Most popular