FOMC : The Fed Story Remains The Same , USD Rises Cautiously !

USA J
USA J

On Wednesday, the Fed released its latest monetary-policy decision, and, as expected, nothing changed. There was no press conference with Fed chair Janet Yellen yesterday, so all we have to do is taking a quick look at the statement and the slight tweaks the Fed has made:

1- The Fed has not raised rates since July 2006.

2- The Federal Reserve hinted strongly on Wednesday that it’s ready to raise interest rates in September.

3- It will be appropriate to raise the target range for the federal funds rate when it has seen some further improvement in the labor market and is reasonably confident that inflation will move back to its 2 percent objective over the medium term.

Conclusion : The Fed is ready to raise interest rates in September but that is not confirmed yet .

Market Impact : Sideways move is likely…but buying the USD on dips remains recommended (Cautiously).

Read the Fed’s statement.

MARKET DATA

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