At the conclusion of the FOMC meeting tomorrow, the expectation is the Fed will keep rates unchanged for the foreseeable future. In the words of the Fed last month, “The current rate is appropriate,” suggesting what could be an extended pause for interest rate adjustments.
Recent economic data has been relatively strong and stable, albeit with a slight decline in growth. Job data has been steady and with inflation rising slowly, the Fed is likely happy with their current targets.
Since little is expected from the outcome of the meeting itself, the press conference afterwards will be the focus of the markets. Investors are eager to find out what Jerome Powell and his associates are thinking and what the future might hold.
In all likelihood, this month’s FOMC meeting will be a non-event for markets. Amidst other global issues such as the outbreak of the coronavirus and ongoing trade negotiations with China, speculators will be less concerned with the Fed this time around.
Nonetheless, those planning to trade during and following the FOMC announcement should have a clear and focused risk management strategy in case of unexpected developments.
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