This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
The U.S. Federal Reserve held its two-day monetary policy meeting last week which concluded on Wednesday. The central bank left interest rates unchanged as widely expected but said that the U.S. economy was “strong” maintaining the course for a further rate hike in September.
By noting that U.S. economic growth was rising strongly and that the labor market was continuing to strengthen, the central bank’s statement was seen as hawkish. Inflation has also remained near the Fed’s 2% inflation target rate, cementing expectations of two more rate hikes this year.
In its monetary policy statement, the FOMC said that “job gains have been strong, on average, in recent months, and the unemployment rate has stayed low. Household spending and business fixed investment have grown strongly.” The statement came amid a unanimous decision.
The central bank’s overnight lending rate curren...
To keep reading this article, please navigate to: Orbex Forex Trading Blog.