Now: Panic is only the Beginning
Dollar gains momentum as panic start to take over the markets again. The main focus of the markets participants is still the overheating economy as the rising inflation rate is look like out of control. The current situation has a high possibility to lead to the major recession on the economies worldwide.
Europe main concern now is the rising of the price fuel as the shortages has been very dire after the conflict between Russia and Ukraine. The German Economy Minister said that the country at the moment will move to the stage 2 of the 3 stages plan to reduced import from the Russian on fuel in which probably led to more serious inflation on the fuel price.
Fed Chairman Jerome Powell yesterday testified before the House Financial Services Committee on Monetary Policy and the State of the Economy in which during the process state that the current growth should be able to remain strong for this year but at the same time the concern for the rising inflation is still a challenge that need to tackle with care.
24 June 2022