The FOMC announces a 25-basis point rate hike, the first since 2018. This is lift-off as the Fed begins to pare back pandemic stimulus, largely in response to still-aggressive inflation.
The press conference is now over and there's 30 minutes left until equity markets close for the day.
At this point, I have to assign Chair Powell an 'A' for this meeting. He delivered a harsh message in a very soft manner, enough so that the quick panic that set in after the projections were released with the rate hike statement was quickly erased.is net negative from the rate decision, and stocks are in positive territory. For a lift-off rate announcement, that sounds like he threaded the needle fairly well.
With that being said, there remains a plethora of risks on the horizon and today's meeting, frankly, does nothing to change that. A 25 basis point hike was never going to fix inflation nor will it now. But, we've gotten the first rate hike off without a major market meltdown and given all of the factors at play, that wasn't a sure thing this morning so, for today, Powell threaded the needle.Contact and follow James on Twitter:
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Gold Falls as Commodity Pullback Saps Inflation Expectations Ahead of FOMCGold prices are on the move lower after a new wave of Covid lockdowns across China sent commodity prices lower. That hurt gold-friendly inflation expectations ahead of this week's FOMC decision. Get your market update from FxWestwater here:
Leer más »
S\u0026P 500 Forecast: Index Recovers Ahead of FOMCThe S\u0026P 500 initially fell on Tuesday only to find buyers underneath and recover.
Leer más »
BTC/USD Forex Signal: Range-Bound Ahead of FOMC DecisionThe BTC/USD pair remained in a tight range in the overnight as the consolidation phase continued as investors waited for the upcoming Fed decision.
Leer más »
EUR/USD Forex Signal: Pullback Likely After Key ResistanceThe EUR/USD pair tilted higher on Tuesday morning as the market sentiment continued being mixed ahead of the FOMC decision and the crisis in Ukraine escalated.
Leer más »
BTC/USD Forex Signal: Range-Bound Ahead of FOMC DecisionThe BTC/USD pair remained in a tight range in the overnight as the consolidation phase continued as investors waited for the upcoming Fed decision.
Leer más »
USD/SGD Forecast: USD Choppy Against Singapore DollarThe US dollar went back and forth on Tuesday to show a little bit of hesitation.
Leer más »