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 (January 29th, 2020) will start at 19:30 GMT.
When is the Fed interest rate decision and how could it affect EUR/USD?
The Fed is expected to keep the Fed Funds rate unchanged at the 1.50 – 1.75% range. After cutting interest rates three times in a row, market participants see no change for the second consecutive meeting. Members of the Federal Open Market Committee (FOMC) consider, at least until today, the current stance of monetary policy as “appropriate”.
USD/JPY hits fresh lows under 109.00 ahead of the FOMC.
The USD/JPY pair dropped to 108.96, reaching a fresh daily low but then rebounded rising back to the 109.15 area. Prices across financial markets are moving sideways, as market participants await the outcome of the FOMC meeting.
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.