Wosh just took office and is about to face an inflation bomb; the script of three rate hikes in December is quite intense.

ME News message. 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 Federal Reserve Chair, Waller." The U.S. Senate approved Waller to serve as Federal Reserve Chair on Wednesday. This 56-year-old lawyer and financier will take the helm of the Federal Reserve. Kong added: "We expect the FOMC will have to enter a rate-hike cycle starting from this December. For now, we expect this cycle will raise rates three times." (Source: Jin10)