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5:15 PM · 21 February 2022

US stocks futures edge lower as investors weigh comments from Fed Bowman

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US stock futures extended their move to the downside following hawkish remarks from FED Governor Michelle Bowman.

Key comments:

  • Additional rate increases likely in the coming months
  • Inflation is much too high
  • Forceful action is needed
  • Substantial risk that high inflation could persist
  • Labor market consistent with maximum employment
  • Reducing balance sheet to appropriate and manageable level important additional step in addressing high inflation
  • It's 'more than time' for the Fed to begin normalizing
  • Says she will be closely watching the data in the coming weeks
  • Expects a series of rate increases, the timing of which will be determined by data.
  • At upcoming meetings, we are likely to see several opportunities to raise rates.
  • It is crucial that Congress passes a CBDC.

US30- continues to move lower after comments from FED Bowman. Index is heading towards major support at 33410 pts, which is marked with previous price reactions and lower limit of the 1:1 structure. Source: xStation5

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