Jerome Powell, Chairman of the Federal Reserve System, will be delivering his remarks on the monetary policy outlook at a press conference following the 2-day meeting of the Board of Governors. Powell’s speech today (December 11th, 2019) will start at 19:30 GMT.
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When is the Fed interest rate decision and how could it affect EUR/USD?
The Federal Reserve is expected to keep the Fed Funds rate unchanged at the 1.50 – 1.75% range. After cutting interest rate three times in a row, now market participants see no change today and also at the January meeting. Most members of the Federal Open Market Committee (FOMC) mentioned they consider the current stance of policy appropriate.
Fed on hold as we wait for Trump’s decision on trade deal – Danske Bank
As most FOMC members have said they think the current stance of monetary policy is appropriate, the Fed is now on hold after three cuts in a row. Political uncertainty has declined, global growth has stabilised and US recession fears have eased after strong job reports lately. Most will look at the ‘dots’ for hints about what the Fed thinks about next year. Given the Fed has cut one more time than it thought in September, it will automatically be lowered but we think the Fed will signal it is on hold also next year. Markets are pricing in another cut during 2020.
About Jerome Powell (via Federalreserve.gov)
Jerome H. Powell took office as Chairman of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. Mr. Powell also serves as Chairman of the Federal Open Market Committee, the System’s principal monetary policymaking body. Mr. Powell has served as a member of the Board of Governors since taking office on May 25, 2012, to fill an unexpired term. He was reappointed to the Board and sworn in on June 16, 2014, for a term ending January 31, 2028.
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