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

<ul><li>A strong majority of FOMC feels there is a little further to go with rate hikes</li><li>We kept rates on hold to give ourselves more time to make decision</li><li>Paper losses on our balance sheet have no effect on our ability to do monetary policy</li><li>Headline <a href="https://www.forexlive.com/terms/i/inflation/">inflation</a> has come down but that's largely from energy and food, not principally a function of monetary policy</li><li>We still have a long way to go</li><li>I see a path for inflation to continue falling with little increase in unemployment</li></ul><p>USD/JPY is making a move at the moment, as it finds blue skies, technically.</p>

This article was written by Adam Button at www.forexlive.com.