If U.S. starts FX interventions, EUR/USD bears may face big problems
Jerome Powell has once again confirmed that the Fed has some reasons to ease its monetary policy. He says the strong tie between unemployment and inflation, based on the Phillips curve, was broken at least 20 years ago and the relationship “has become weaker and weaker and weaker.” Strong employment is no longer generating the prices that would require a higher federal funds rate. The US economy is sound, and the central bank must resort to every necessary measure to support its sustained growth.
Other authoritative FOMC officials have...
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