FOMC Chairman Powell likey to say strong economy could lead to more rate hikes – WSJ

Eren Sengezer FXStreet

FOMC Chairman Powell is likely to note in his testimony before the Senate Banking Committee that strong economic activity this year could lead the Fed to raise rates more than expected, the Wall Street Journal's Nick Timiraos reported on Tuesday.

Market reaction

These comments don't seem to be having a significant impact on the US Dollar's performance against its rivals. As of writing, the US Dollar Index was up 0.15% on the day at 104.43.

Powell's two-day testimony will start at 1500 GMT on Tuesday.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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