The Federal Reserve Board, the central bank of the United States, is expected to raise policy rates and tighten monetary policy at a meeting starting on the 15th to curb record inflation.
There is also a strong concern that the situation in Ukraine will accelerate the rise in energy prices, and it is becoming more difficult to steer policies.
The Fed will hold regular meetings on the 15th and 16th to determine monetary policy.
In the United States, the economy continues to recover and employment is improving, but supply cannot keep up with the recovery in demand due to logistics disruptions and labor shortages, and the rate of increase in consumer prices is at the highest level in 40 years.
In order to curb this record inflation, the Fed is expected to lift the zero interest rate policy introduced in March following the spread of the new coronavirus infection and raise interest rates.
Powell expects a 0.25% rate hike, a major milestone in shifting from easing measures to support the economy to tightening monetary policy.
However, there are concerns that the price of energy and raw materials will soar as a result of Russia's military invasion of Ukraine, which will accelerate the rise in prices.
Also, if the United States rushes to tighten monetary policy, it could depreciate the currencies of emerging countries and other countries, causing turmoil in the world economy.
As monetary policy becomes more difficult to steer, there is growing interest in the results of the meeting announced early on the 17th of Japan time and the remarks of Chair Powell.