Federal Reserve's Christopher Waller said three hikes in 2022 are still a good baseline but he said if inflation stays high there could be four or even five hikes.Doesn't favour 50bps Fed hike in March.Can shrink balance sheet by allowing organic runoff.Once inflation down to 2.5% rapid rate hikes no longer needed.Inflation has stayed higher for longer than any of us thought it would.If inflation stays above 3%, clearly we would need to do more, and potentially rethink framework.
Meanwhile, the US dollar, as measured by the DXY index, has moved in on a critical level of daily support and would now be expected to correct higher as follows: If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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