The Federal Reserve kept its economic relief programs and the fed funds rate unchanged as expected. Dollar and Treasury rates fall, equities rise, erasing the pandemic loss, and this trend is expected to continue while the US economy is unable to show a robust recovery, FXStreet’s analyst Joseph Trevisani briefs. Key quotes “The Federal Reserve kept its policy and rate matrix unchanged at the July meeting while Chairman Powell warned that a slowing economy would require support for the foreseeable future.” “Chairman Powell said that high-frequency data such as credit card purchases, travel, restaurants visits and the like suggested that the US economy began to slow after virus cases began to accumulate in early June though whether that would continue is uncertain. The FOMC statement and Mr. Powell noted that progress on the economy is closely linked to the control of the virus. ‘A full recovery is unlikely until people believe it is safe to undertake a full range of activity,’ said the Chairman.” “The Fed is fully engaged in the fight against the economic weakness stemming from the Covid pandemic and though the Chairman did not directly mention expanding its rate impact to the longer end of the yield curve, its commitment to providing as much support as possible leads in that direction.” “As long as the US economy fails to achieve a robust self-sustaining recovery, whatever the reason, speculation on lower rates will continue to support stocks and bond prices and weaken the dollar.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Ethereum Classic Price Analysis: ETC/USD extends the sell-off, $7.00 stays unbroken FX Street 3 years The Federal Reserve kept its economic relief programs and the fed funds rate unchanged as expected. Dollar and Treasury rates fall, equities rise, erasing the pandemic loss, and this trend is expected to continue while the US economy is unable to show a robust recovery, FXStreet’s analyst Joseph Trevisani briefs. Key quotes “The Federal Reserve kept its policy and rate matrix unchanged at the July meeting while Chairman Powell warned that a slowing economy would require support for the foreseeable future.” “Chairman Powell said that high-frequency data such as credit card purchases, travel, restaurants visits and the like suggested that… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.