# Jerome H Powell: Semiannual Monetary Policy Report to the Congress

> Fed Chair Jerome Powell told the Senate Banking Committee that inflation remains far above the 2% goal, with PCE prices up 6.3% over the 12 months to April and core up 4.9%. He pledged the Fed would move expeditiously to bring inflation down.

- Date: 2022-06-23 · published 2022-06-23T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/40849-jerome-h-powell-semiannual-monetary-policy-report-to-the-congress
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Signals further aggressive rate hikes, which tend to strengthen the dollar and weigh on dollar-denominated commodity prices and risk appetite, pressuring feed grain and oilseed markets.

## Read by commodity

- DXY: bullish ▲
- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-02-16 | [Janet Yellen: Semiannual Monetary Policy Report to the Congress](https://feedsoft.ai/events/72392-janet-yellen-semiannual-monetary-policy-report-to-the-congress.md) | -0.5% | -0.7% |
| DXY | 2022-06-02 | [An Update on the Economy and Monetary Policy](https://feedsoft.ai/events/40854-an-update-on-the-economy-and-monetary-policy.md) | -0.3% | +1.9% |
| DXY | 2017-11-23 | [Account of the monetary policy meeting](https://feedsoft.ai/events/68185-account-of-the-monetary-policy-meeting.md) | -0.1% | +0.3% |
| DXY | 2018-11-22 | [Account of the monetary policy meeting](https://feedsoft.ai/events/62238-account-of-the-monetary-policy-meeting.md) | +0.1% | +0.1% |
| DXY | 2018-04-12 | [Account of the monetary policy meeting](https://feedsoft.ai/events/65690-account-of-the-monetary-policy-meeting.md) | -0.0% | +3.5% |
| CORN | 2018-11-22 | [Account of the monetary policy meeting](https://feedsoft.ai/events/62238-account-of-the-monetary-policy-meeting.md) | -0.4% | +8.4% |
| CORN | 2019-06-04 | [4 June 2019 \| Minutes of the Monetary Policy Meeting of the Board \| RBA](https://feedsoft.ai/events/11310-4-june-2019-minutes-of-the-monetary-policy-meeting-of-the-board-rba.md) | -0.7% | -0.2% |
| CORN | 2020-05-14 | [Less than zero? Powell shows no love for negative rates - Moneyweb](https://feedsoft.ai/events/53335-less-than-zero-powell-shows-no-love-for-negative-rates-moneyweb.md) | -0.0% | +1.8% |

## Sources

- bis.org: https://www.bis.org/review/r220623c.htm

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.