FOMC optimistic about economic growth
2018-04-12 08:37 am | Resource: NEWS | No Views : 106
The minutes of the latest FOMC meeting showed that members were optimistic about economic growth and that inflation was moving towards the target, which might need a "sharper" path at a higher rate than currently expected.
All participants agreed that the outlook for the economy after the current quarter had been strengthened in recent months, as the minutes of the March 20-21 meeting showed, and the Fed expected inflation to rise towards its target of 2%.
A number of participants pointed out that the stronger outlook for economic activity, coupled with their growing confidence that inflation will return to 2 percent in the medium term, suggests that the appropriate course of interest rate (federal policy) over the next few years is likely. Will be a little sharper than expected before. "
Some members said that "monetary policy is likely to eventually move from a compromise position to being a neutral or restricted factor of economic activity."
At the March meeting, the Federal Reserve raised federal funds rates by a quarter percentage point to 1.5% to 1.75%.
Time frame Used - four hours The USDJPY is moving in a sideway direction in the near term The USDJPY still faces resistance around the 112.90 level In view of the technical indicators Both the RSI and the Stochastic are indicating to the arrival of indicators in the overbought area Accordingly, we expect that the USDJPY will retreat to 112.19 The alternative scenario is that the USDJPY breach…
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