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- Powell to leave no doubt about Fed's determination in fight against inflation, supporting USD – Commerzbank
Powell to leave no doubt about Fed's determination in fight against inflation, supporting USD – Commerzbank
The symposium of the Kansas City Federal Reserve in the idyllic Jackson Hole will be closely watched on Friday. Economists at Commerzbank expect Fed Chair Jerome Powell to support the dollar with a convincing speech.
Powell likely to focus on the short-term challenges
“The market will have to continue guessing how the Fed would react should the economy cool down more significantly. And with that, of course, there is always the risk of a sudden adjustment in expectations and a sharp dollar move. However, we think it unlikely that Fed Governor Jay Powell will provide clarity in this regard in his speech at the opening of the symposium.”
“Powell is likely to focus on the short-term challenges and endeavor to leave no doubt about the Fed's determination in the fight against inflation. If he succeeds convincingly, he could support the dollar, at least in the short-term.”
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