FOMC

Forex News: Fed on hold for the foreseeable future

Greg Michalowski — Tue, 05 Aug 2008 14:58:17 -0400

The Fed is on hold. There is the risks which we are well documented in housing, banking and employment, and the Fed is fully aware. However, they did note that the 'substantial' easings to date should help promote 'moderate growth' which is all they really want.

I was a little surprised of the inflaton hawkishness. Perhaps they could have said something about the easing of oil and commodities of late, but they did not specifically address the easing. However, I don't think they want to mistake a correction in the commodities as a change in trend to count on.

Anyway, with inflation risks still present, the risks are balanced enough to remain exactly where we are.

Forex News: The text of the FOMC Interest Rate Decision

Greg Michalowski — Tue, 05 Aug 2008 14:30:59 -0400

The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2 percent.

Forex News: FOMC keeps rates unchanged

Greg Michalowski — Tue, 05 Aug 2008 14:16:50 -0400

FISHER DISSENTS, PREFERRING RATE INCREASE
FEDERAL FUNDS RATE UNCHANGED AT 2 PERCENT
INFLATION RISKS ARE SIGNIFICANT CONCERN
INFLATION TO MODERATE, OUTLOOK `HIGHLY UNCERTAIN'
DOWNSIDE RISKS TO GROWTH REMAIN
FINANCIAL MARKETS REMAIN UNDER `CONSIDERABLE STRESS'
INFLATION `HIGH,' EXPECTATIONS HAVE BEEN ELEVATED
WILL ACT AS NEEDED TO PROMOTE GROWTH, STABLE PRICES
VOTE TO LEAVE RATES UNCHANGED IS 10-1

Forex News: FOMC to keep rates unchanged today

Greg Michalowski — Tue, 05 Aug 2008 14:09:55 -0400

The FOMC is expected to keep rates unchanged. The decision is due at 2:15 PM. Last month the decision was released a few minutes early.

I would expect the FOMC to keep the guard up for growth and inflation. Needless to say the housing market will still remain a concern and therefore growth should remain sluggish. In addition employment remains on the soft side. However, the easings to date have been enough to stimulate growth.

Forex News Preview: FOMC Statement on Interest Rates due at 2:15 PM EDT

Greg Michalowski — Tue, 05 Aug 2008 08:14:24 -0400

Forex News: FOMC Minutes are released

Greg Michalowski — Wed, 16 Jul 2008 14:05:45 -0400

Highlights:

THE FED COULD RAISE RATES REAL SOON
ECONOMIC OUTLOOK MADE TIMING AND MAGNITUDE UNCLEAR.
INFLATION EXPECTATIONS AND INFLATION BOTH HAVE UPSIDE RISKS
SIGNIFICANT DOWNSIDE RISKS TO THE OUTLOOK FOR GROWTH

Bernanke's testimony has tamed what would have been more shocking news. The Fed does not seem intent on tightening but is more concerned about the stability of the financial system instead. It is not a reason to rejoice or be happy that they will not tighten. The economy has a lot of uncertainty it must face.

Forex News: FOMC Unchanged

Greg Michalowski — Wed, 25 Jun 2008 14:10:44 -0400

9-1 Fisher preferred to raise rates.

DOWNSIDE GROWTH RISKS HAVE 'DIMINISHED SOMEWHAT'
UPSIDE RISKS TO INFLATION, EXPECTATIONS HAVE RISEN
UNCERTAINTY ABOUT INFLATION OUTLOOK REMAINS HIGH
IT EXPECTS INFLATION TO MODERATE
FINANCIAL MARKETS REMAIN UNDER `CONSIDERABLE STRESS'
ACT AS NEEDED TO PROMOTE GROWTH, STABLE PRICES

Forex Trading: Dollar a little lower as FOMC meets

Greg Michalowski — Tue, 24 Jun 2008 09:26:51 -0400

The dollar is a little lower in early NY trade as the FOMC starts their two day meeting. The expectation is for no change in rates. However, expect more concern about inflation and increases in inflationary expectations.

Forex News: FXDD Special Report on Bernanke's Change of Heart on the US Dollar

Greg Michalowski — Wed, 04 Jun 2008 07:34:47 -0400

Chairman Bernanke's comments on the US dollar yesterday reflected a change in heart on the Fed's position on the US dollar. To print out the article, click on the PDF attachment at the bottom of the report.

Forex Analysis: The Fed's Change of Heart on the Dollar

Forex Special Report. The Fed's Change of Heart on the Dollar

Greg Michalowski — Tue, 03 Jun 2008 18:57:34 -0400

For an analysis of the Bernanke comments and why it might be important for the dollar, please click on the following Attached File.