The Federal Reserve did acknowledge the downfall in inflation by saying they are monitoring inflation closely. However, it did not impact the decision: they raised rates. In addition, they did change their forecast for interest rates: one more is expected for 2017 – no change in the dot plot. The US dollar recovers the ground lost earlier in the day. Follow the live blog and video coverage. Yellen’s press conference In the press conference, Yellen provides excuses for low inflation: a fall in the price of prescription drugs and telephone bills. She says they are “one-offs”. By dismissing weak inflation, Yellen gives another boost to the dollar. She says that the conditions are in place for inflation to move up. There is no undermining of inflation expectations. IS she correct? At the moment, inflation expectations are unchanged. In addition, Yellen expresses confidence about the economy and sees further growth. This is partially linked to global growth. The hike reflects progress in the economy. She provides an interesting comment on stocks: the Fed has “noticed that stocks are considerably higher” since the beginning of the year. Regarding the balance sheet reduction, she wants it to be like “watching paint dry”. Reactions: FOMC reaction: Another Hike In September Before Balance Sheet Unwind In December – CIBC FOMC Reactions: Balance sheet in September, hike in December – two opinions Fed Live Blog – as it happened The page auto-refreshes FED Background The Federal Reserve was widely expected to raise interest rates for the third time in the past six months. Why? It’s not the data, which doesn’t look. It’s actually what the Fed has guided us. However, the fall of inflation reported just hours before the publication, sent the dollar crashing down and cast some doubts about the move. The big question is what’s next? Some answers are made available via the dot-plot, the statement and later with the press conference by Janet Yellen. Follow the live video and live blog coverage below: Fed Live Video Coverage – as it happened Follow the live coverage with Valeria Bednarik: More: Fed Preview: 5 Things to watch out for in a “dovish hike” Fed Video Preview: Beyond the dovish hike: more rate rises, QT USD: Fed To The Rescue: Will The USD Rally Out Of FOMC? – NAB Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Trump investigated for obstruction of justice – USD/JPY to Yohay Elam 6 years The Federal Reserve did acknowledge the downfall in inflation by saying they are monitoring inflation closely. However, it did not impact the decision: they raised rates. In addition, they did change their forecast for interest rates: one more is expected for 2017 - no change in the dot plot. The US dollar recovers the ground lost earlier in the day. Follow the live blog and video coverage. Yellen's press conference In the press conference, Yellen provides excuses for low inflation: a fall in the price of prescription drugs and telephone bills. She says they are "one-offs". By dismissing weak inflation,… 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.