_Alan’s Daily Market Insights_

#Fed Chairman Powell went to US House of Representatives to deliver the semi-annual monetary policy report.
He stated that there may be further interest rate hikes in the coming months to combat inflation and it will take some time to understand the impact of the current tightening environment on the economy, especially in terms of stabilizing #inflation at the long-term target of 2% annual growth rate, after it has emerged.
Economic data over a few months is not enough to conclude that inflation is slowing down.
Therefore, the Fed will continue to raise interest #rates in the coming months.