Gold, Greenback & Nasdaq React to FOMC Choice, Contemporary Projections
GOLD, US DOLLAR, NASDAQ – MARKETS REACT TO SEPTEMBER 2020 FED MEETING
- FOMC resolution leaves the goal federal funds price on maintain close to zero as anticipated
- Fed officers upgraded financial projections for GDP, unemployment and inflation
- Nasdaq edges increased whereas the US Dollar and gold price motion whipsaw in response
The Federal Reserve simply launched its newest financial coverage assertion the place the central financial institution reiterated its dovish place. The September 2020 FOMC Assertion acknowledged that the benchmark federal funds price was left unchanged at 0.00-0.25% as anticipated. The Fed announcement additionally revealed intent to proceed buying Treasury securities and company mortgage-backed securities no less than on the present tempo. Apparently, two Fed officers dissented from the most recent FOMC resolution as they go for higher flexibility on coverage going ahead.
FOMC SUMMARY OF ECONOMIC PROJECTIONS – SEPTEMBER 2020
Chart Supply: Federal Reserve