The FED will reveal its interest rate decision, as well as hold the monthly FOMC meeting today starting from 21:00 (GMT +3).
It's predicted that the interest rates will be hiked by 0.50% and if this turn does not take place or is delayed, it is likely to significantly damage the USD value for the next 3 weeks. However, the rate increase has a high likelihood.
This is an important moment for traders as what the FOMC has to say may have a significant impact on several US assets. 📊
In the previous FOMC last month, the interest rates were hiked by 25 basis points (0.25%) which didn't result in major market swings as it was largely priced in before the event.
What is FOMC and why does it matter?
The Federal Open Market Committee (FOMC) was created in 1913, along with the Federal Reserve System. In simple terms, it's the branch that determines the course of monetary policy in the US. 🏦
FOMC can influence the interest rates for the US economy by changing the Fed's funds rate. As a result, all types of loans can get either more expensive or cheaper, which tend to have a significant effect on the financial markets.
What to look out for?
Here are the key assets to watch during FOMC meetings:
Where to follow the FOMC meeting?
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