A hearing for the reappointment of the chairman of the Federal Reserve Board (FRB) will be held at the US Senate Bank Housing and Urban Committee from midnight on the 12th of Japan time. The Federal Open Market Committee (FOMC) decided in December last year to double the pace of asset purchase reductions, and the end of asset purchases will be from June 2022 to mid-March 2022, which was originally planned. It was decided to move forward. “We will take every possible measure to support the economy and the strong labor market and prevent high inflation from taking hold,” the pre-hearing manuscript stated, ending asset purchases as prices continue to rise. Later, if they are willing to raise rates immediately, the dollar could be bought.
Pay attention to the movement of USD before and after Powell’s remark. The basic is to buy USD.
