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 (October 30th, 2019) will start at 18:30 GMT.
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FOMC Preview: What 11 major banks are expecting from October meeting?
Today, world markets are keenly awaiting the outcome of the all-important Federal Open Market Committee (FOMC) monetary policy decision for the month of October, which will be announced at 1800 GMT. As we move towards the decision timings, here is a sneak preview of the expectations of the economists and researchers of 11 major banks regarding the outcome of the meeting.
When is the Fed interest rate decision and how could it affect EUR/USD?
The impact across financial markets will likely depend on the decision and mostly about policy prospects for the next meeting and also for next year. The Greenback will likely rise sharply if the Fed remains on hold or if markets consider it was a “hawkish cut.” On the contrary, if the Fed delivers as expected and the FOMC explains it might have to keep cutting rates, the US Dollar could drop sharply.
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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