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Highlights from Kashkari’s /Fed/ speech and market reaction.

Feds Kashkari: “Fed Focuses on Demand to Reduce Inflation. We Remain Committed to Lowering Inflation to 2%” Highlights of Kashkari’s speech /FED/
-The Fed focuses on the underlying demand in the economy to reduce inflation. People are still spending more than expected. -Housing is an area the Fed is focusing a lot on.
-The big question now is how restrictive the Fed’s current policy is. We will need more time at these levels to understand where inflation is headed. -The Fed’s balance sheet reduction is going well
– We remain committed to reducing inflation to 2%
-With higher US government debt, higher borrowing costs may be needed in the near term to achieve 2% inflation.

Market reaction – Traders remain in risk on mode
SP500 1 Hour Chart

-Sentiments remain positive despite Kashkari maintaining a cautious tone. SP500 marks a new ATH. There probably isn’t much bullish charge left for today’s session, but right now the trade is above the ex high. A new ATH close in today’s session will give further support to buyers for the rest of the week.


 Head Dealer Alexander Alexandrov

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