Jerome Powell, Chairman of the Federal Reserve System, will be delivering his remarks at a press conference following the 2-day meeting of the Board of Governors. Powell’s speech today (June 13, 2018) will start at 18:30 GMT.
Most experts expect the Fed to announce a 25 bps rate hike today. However, the focus will be on the updated economic projections and the dot diagram, which will reveal the expectations of the number of rate hikes in the remainder of the year.
FOMC Preview: 8 major banks expectations from June meeting
We are closing into the FOMC’s June policy decision and as the clocks tick closer to the decision timing, following are the expectations as forecasted by the economists and researchers of 8 major banks along with some thoughts on the future course of Fed’s action.
US Dollar Index Technical Analysis: Greenback hammered down ahead of FOMC
The US Dollar Index (DXY) has lost about 40 cents after attempting to break above Tuesday’s high. Although the selling has been fairly intense, DXY is trying to find a support at the bull channel (black line).
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.