Fed press conference: Chairman Jerome Powell speech live stream – July 31

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 (July 19, 2019) will start at 18:30 GMT.

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FOMC Preview: What 12 major banks are expecting from July meeting?

Today, world markets will be keenly awaiting the outcome of the all-important Federal Open Market Committee (FOMC) monetary policy decision for the month of July, which will be announced at 1800 GMT. As we move towards the decision timings, here are the expectations as forecasted by economists and researchers of 12 major banks.

When is the Fed interest rate decision and how could it affect EUR/USD?

The Federal Reserve is widely expected to lower the Fed Funds rate by 25 basis points to 2.00 – 2.25% range. It would be the first cut since the 2008 financial crisis. Market pricing points to a very small odd of a 50bp cut. Regarding the future, another cut before year-end is priced in at the moment. So if the Fed delivers as expected, the statement and Powell’s words will be watched closely for clues about the future.  

About the interest rate decision  

With a pre-set regularity, a nation’s Central Bank has an economic policy meeting, in which board members took different measures, the most relevant one, being the interest rate that it will charge on loans and advances to commercial banks. In the US, the Board of Governors of the Federal Reserve meets”‹ at intervals of five to eight weeks, in which they announce their latest decisions. A rate hike tends to boost the local currency. A rate cut tends to weaken the local currency. If rates remain unchanged (or the decision is largely discounted), attention turns to the tone of the FOMC statement, and whether the tone is hawkish, or dovish over future developments of inflation.

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.