*POWELL ACKNOWLEDGES DISINFLATION AGAIN, BUT SEES MORE HIKES IN LONG INFLATION WAR
Powell's latest remarks were largely a recap of his prior remarks following the Fed's decision last week to downshift to a quarter-point hike. The scant new clues on monetary policy give the fed options on policy to respond to incoming data either by delivering more hikes or pausing.
"Powell has the luxury to wait because the CPI is going to come down just from the base effects, goods deflation, and lower rental prices...He is in no rush to do anything dramatic at this point," Ren added.
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