Fed Begins to Use Discourse Power…

Federal Reserve Bank (Fed), Chairman Jerome Powell continued his “Hawk” stance in his two-day presentation to the US Congress during the week.
Powell said in his presentation that 1 or 2 more rate hikes may be needed this year.
Jerome Powell briefed the Banking, Housing and Urban Affairs Committee on the semiannual Monetary Policy Report to the US Congress.
Powell gave the message that there may be an increase in interest rates this year to reach the 2 percent inflation target.
We already expected that the Fed would use its rhetoric power and keep the markets under pressure with rhetoric.
However, the issue of whether the Fed will raise interest rates once again by the end of this year has already started to be discussed.
This uncertainty will become clearer on 12 July.
Because on July 12, the eyes of global markets will be on “US inflation data”.
We can see a sharp decline in the US inflation, which was last announced at 4 percent.
Like 3.4-3.3 percent.
After this fall, which I expected on July 12, we can see Powell's more hawkish speech.
Both the downward trending inflation and the Fed's hawkish rhetoric indicate that the control in the markets is not over.
So, it shows that they will not release all instruments against the dollar immediately.
It is a matter of curiosity what excuses the markets will use against the Fed.
The markets, which connect the summer vacation to the Fed, will be in search of new stories as of September.
Two stories for global markets recession and geopolitical risk.
With these two stories, they may want to get rid of the Fed.
Markets will watch the battle of other instruments with a single instrument.
So, the dollar index (dxy) and everything against the dollar.
The dollar index (dxy) is at 102.50.
It will either end the year above the 105 level and the 100 level or regress to the 92-94 level.
I predict that the dollar index (dxy) will decline to the level of 92-94 by the end of the year.
The Fed is back on the scene again!
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