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May 2, 2018

Since the 25-basis point federal funds target interest rate hike to a range of 1.50-1.75% on March 21, the 10-year Treasury yield has risen another 7 basis points on balance, the price of WTI oil has climbed 3.5%, and the dollar has appreciated by 3.4% against the yen and 2.5% relative to the euro. A […] More

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March 21, 2018

Although government offices in Washington have been closed today due to a winter storm, the FOMC is meeting and will release a statement and updated macroeconomic and interest rate forecasts at 18:00 GMT (14:00 EDT) followed 30 minutes later by an hour-long press conference, the first of Jay Powell’s stewardship as Chairman. A 25-basis point […] More

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January 31, 2018

Seven weeks have passed since the last FOMC meeting when the federal funds rate target range was hiked by 25 basis points for the fourth time since December 2016. The range then became 1.25 – 1.50% and is not expected to be lifted again at this, the first policy review of 2018 and the last […] More

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December 13, 2017

The Fed announcement and new macroeconomic forecast will be announced at 19:00 GMT (14:00 EST) today. Previous forecasts were published in September. The federal funds rate will almost surely get raised by 25 basis points to 1.25-1.50%, marking the fourth such move since the meeting held a year ago. Chair Yellen will preside over her […] More

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November 1, 2017

A press conference is not scheduled for after the release of today’s FOMC statement, set for 14:00 EDT (18:00 GMT). By a unanimous vote , the federal funds target range of 1-1.25% was maintained at the last FOMC meeting on September 20. Nor is a change expected at this week’s meeting, but the statement will […] More

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September 20, 2017

Eight weeks have elapsed since the last FOMC meeting at which time committee members signaled that a program of balance sheet normalization would commence “relatively soon.” The assessment of employment growth was upgraded then, but the discussion of economic conditions otherwise was little changed from the previous June 14th meeting. Since the July 26 meeting, […] More

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July 25, 2017

The Federal Open Market Committee began a two-day policy review today and will release a statement at 18:00 GMT (14:00 EDT) on Wednesday, July 26 announcing and defending its conclusions. This is the fifth scheduled meeting of 2017. There were previous 25-basis point hikes in the federal funds target range (now 1.00-1.25%) in March and […] More

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May 3, 2017

Today’s FOMC statement following the U.S. monetary committee’s third meeting of 2017 will be released at 18:00 GMT (14:00 EDT) and not followed by a press conference except in the very unlikely event that the federal funds rate target 0.75-1.0% is raised further. There have been three increases of 25 basis points each in the […] More

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March 15, 2017

Over the past six weeks since the last FOMC policy announcement on February 1, the dollar has appreciated marginally more than 1.0% against the euro and yen, and the 10-year Treasury yield is advanced 9 basis points. Whereas these changes tighten monetary conditions, a 9% net decline in oil prices and a 5% rise in […] More

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December 14, 2016

The last FOMC meeting occurred right before the U.S. election result heard round the world. Trump’s unanticipated victory and the broad-based policy changes that he intends to pursue have also produced unexpected market moves. Stocks are sharply higher. Sovereign debt yields have risen even more dramatically. The dollar has rallied especially against the yen. Oil […] More

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