The trend retest in 1.06128 at 0.236 Fibonacci Retracement level. A possible downtrend to 1.04824 at 0 Fibonacci Retracement Level.
The Federal Reserve still considering to increase the interest rates due to a still high US inflation rate.
The Fed has implemented a series of interest rate hikes in an effort to tame inflation that had been at its highest level in some 41 years. Markets widely expect a few more hikes before the Fed can pause to assess the impact the tighter policy is having on the economy.
“Simulations of our baseline model suggest that the Fed will need to tighten policy significantly further to achieve its inflation objective by the end of 2025,” the researchers said.
The Federal Reserve still considering to increase the interest rates due to a still high US inflation rate.
The Fed has implemented a series of interest rate hikes in an effort to tame inflation that had been at its highest level in some 41 years. Markets widely expect a few more hikes before the Fed can pause to assess the impact the tighter policy is having on the economy.
“Simulations of our baseline model suggest that the Fed will need to tighten policy significantly further to achieve its inflation objective by the end of 2025,” the researchers said.