The speech of the next head of the Fed!
Dear traders,
The attention of global financial markets is focused on changing the leadership of the Fed. Market players hope to get new tips about the future course of monetary policy of the US central bank. Therefore, the following performances can provoke increased volatility of the market! Be ready to earn!
- Today, at 16:45 (Kyiv) – member of the board of the Fed, Jerome Powell, whom the US President Donald Trump chose as the next head of the Fed, will hold a speech before the Senate Banking Committee at the hearings on approving his candidacy.
- And tomorrow, at 17:00, the current head of the Fed, Janet Yellen, will report on the US economic situation before the Committee on Banking and Financial Services of the US Congress.
Most experts predict that Powell’s statements will be similar to Yellen’s monetary policy rhetoric, but his course is likely to be more lenient in the banking regulation.
In addition to Yellen and Powell speeches, this week will be full of performances by many other Fed officials, including the President of the Federal Reserve Bank of New York, William Dudley, who must leave his post next year.
The last meeting of the Fed this year will be held on December 12-13. Traders consider the probability of an interest rate increase as a result of a meeting of the FOMC committee in December at 100%, according to a forecast by Investing.com.
However, market players doubt the implementation of the plans of the US central bank to raise the interest rate next year due to the fears of a low inflation.
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