Fed's Powell: We have not seen much progress in the way of services inflation

• A strong majority of FOMC feels there is a little further to go with rate hikes
• We kept rates on hold to give ourselves more time to make decision
• Paper losses on our balance sheet have no effect on our ability to do monetary policy
• Headline inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term has come down but that's largely from energy and food, not principally a function of monetary policy
• We still have a long way to go
• I see a path for inflation to continue falling with little increase in unemployment

USD/JPY is making a move at the moment, as it finds blue skies, technically.