According to The Wall Street Journal, Federal Reserve Chairman Jerome Powell is planning to hold a press conference after every meeting to eliminate the idea of the Fed making policy changes only if there is a press conference.
The article also pointed to a comment made by the Atlanta Fed President Raphael Bostic earlier this year. “We’ve evolved to a place where the market only thinks we’ll move if there’s a press conference. This is a sign that what we’re doing right now isn’t working,” Bostic said.
The US Dollar Index reacted positively to this news and jumped to a session high of 93.86. At the moment, the index is at 93.78, up 0.22% on the day.
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