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Karen Manna of Federated Hermes said on May 7 that Federal Reserve Chairman Powell may not be able to satisfy investors thirst for clarity when he speaks to reporters after tomorrows interest rate decision. The Fed is expected to keep interest rates unchanged, and Powell may face questions about the impact of tariffs on inflation and the economy. The final level of tariffs and their duration remain unknown, which limits Powells ability to provide more clear information. "Forecasting is always difficult, and it is almost impossible to make forecasts when the target is constantly changing." She expects this uncertainty to continue until the Feds June meeting unless there are substantial changes.Pakistans Defense Minister: Conflict between Pakistan and India is "imminent".On May 7, according to British officials and documents, Britain is pressuring the European Union to more clearly support Britains participation in a 150 billion euro defense fund, after the first draft of the proposed security agreement basically did not mention this request. British Prime Minister Starmers government hopes to have firmer words on defense industry cooperation and joint fight against illegal immigration. The two sides are striving to reach an agreement before the London summit scheduled for May 19. British officials said they will work with the European Union in the coming days to draft a final document to send a stronger message on the ambitions of defense industrial policy. Although the draft mentioned exploring the possibility of both sides participating in their respective defense plans, it did not mention Britains goal of obtaining a 150 billion euro fund, nor did it explain how to achieve this goal.The Federal Reserve accepted a total of $129.858 billion from 34 counterparties in fixed-rate reverse repurchase operations.A statement from the Federal Aviation Administration (FAA) showed that Musks SpaceX has obtained FAA approval to conduct up to 25 Starship launches per year in Texas.

Before the Fed and BoJ adopt interest rate policy, the USD/JPY exchange rate is normal

Daniel Rogers

Sep 21, 2022 14:39

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Attempts to push the USD/JPY rate above the 144.00 psychological barrier have met with opposition. The goal of the effort was to break over the long-term trading range of 142.55 to 143.80 to the upside. The duo has retreated into the woods after its breakout attempt failed, and it is expected to do poorly going forward.

 

The Federal Reserve's interest rate decision is the likely event for Wednesday (Fed). The Federal Reserve is widely expected to undertake a third consecutive rate hike of 75 basis points (bps). The retail sector is doing well, and the labor market is tighter than anyone expected, so the Federal Reserve still has a lot of room to raise interest rates. Therefore, bets on a 1% rate hike are rising and could pay well.

 

Inflation, interest rate peak, and economic growth projections will also be tracked. All possible actions by the Fed have been priced out of the market. In the wake of the Fed's meeting, investors will get ready to take bolder steps.

 

The chance of a policy adjustment from the Bank of Japan has increased as the nation's Consumer Price Index (CPI) has improved (BOJ). Statistics Bureau of Japan published a national CPI of 3%, which is above both expectations and the prior release of 2.6%. The core CPI, which does not include food or energy prices, has also gone up, to 1.6% from 1.2%, but is still less than the predicted 1.7%.

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