Following its 2-day meeting, the Federal Open Market Committee (FOMC) on Wednesday announced that it lowered the benchmark interest rate by 25 basis points to the target range of 1.75% – 2% in a widely expected decision. Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is scheduled to deliver his comments on the monetary policy outlook in a press conference at 18:30 GMT.
With the initial reaction, the US Dollar Index edged higher and was last up 0.07% on the day at 97.75.
Key takeaways from the policy statement (via Reuters)
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