Fed Chair Jerome Powell indicated that the move likely was just a brief respite rather than an indication that the Fed is done hiking.
Speaking a week after the Federal Open Market Committee decided for the first time in more than a year to not push rates higher, Fed Chair Jerome Powell indicated that the move likely was just a brief respite rather than an indication that the central bank is done hiking.Fed officials indicated there could be two more quarter-percentage point moves on the horizon this year.
And 2% inflation remains the magical target. In the U.S., that is still elusive with inflation at 4% in May and core inflation at 5.3%. But over in Japan, central bankers are wary that inflation will not stay above their 2% goal — even though that has been the case for well over a year now. They are eager to get the timing of any definitive monetary tightening right, but that won't be easy after decades of chronic deflation in the world's third-largest economy.Get the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are.
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