Federal Reserve Chairman Jerome Powell explains the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25%-5.5% and responds to questions in the post-meeting press conference.
Key takeaways We have made no decisions about future meetings. Broad sense at FOMC is we are moving closer. We are data dependent but not data point dependent. The Questionwill be if the totality of data is consistent with rising confidence on inflation and jobs. Rate cut could be on the table in September. We are getting closer to being at point to reduce rates. Not quite at that point yet.
How do the decisions of the Federal Reserve impact the US Dollar? The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve . The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value.
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