Powell, preparing for Trump 2.0, FRB Chair?!

11/14PowellFRB(Federal Reserve Board)chairman shifted to not rushing for a rate cut after one week of delay.1He turned away from immediately cutting rates, in a speech a week later. This week’s inflation indicators show a bottoming trend, and the triple red outcome in the U.S. presidential election—Republican president and both houses won by the Republican Party—has heightened inflation concerns as background.(The birth of a Republican president and the Republican victory in both chambers)are believed to be behind this inflation vigilance. Going forward, we forecast the FRB's monetary policy and the path of the USD/JPY exchange rate.