Wosh just took office and is already facing a hot potato; the script of three interest rate hikes in December has begun to unfold.

ME News: On May 15 (UTC+8), Australian Commonwealth Bank foreign exchange strategist Carol Kong said: “The inflation data released this week will definitely not be welcomed by FOMC officials, including the incoming U.S. Federal Reserve Chair, Waller.” The U.S. Senate approved Waller as Federal Reserve Chair on Wednesday. At 56 years old, this lawyer and financier will take the helm of the Federal Reserve. Kong also said: “We expect the FOMC will have to enter a rate-hike cycle starting in December this year. At present, we expect this cycle to raise rates three times.” (Source: Jinshi)