Jerome Powell, Chairman of the Federal Reserve System, will be delivering his remarks on the monetary policy outlook at a press conference following the meeting of the Board of Governors. Powell's speech today (April 29th, 2020) will start at 18:30 GMT.
When is the Fed interest rate decision and how could it affect EUR/USD?
The Fed is expected to keep the Fed Funds rate unchanged at 0.00-0.25%. Earlier today, Q1 GDP data showed the terrible consequences of the coronavirus on growth. The economy contracted by 4.8%.
Fed Preview: Powell could trigger the end of the dollar panic trade.
The Fed’s view into the next quarter and through the end of the year will be the paramount interest at Wednesday’s FOMC meeting, FXStreet’s analyst Joseph Trevisani reports.
About Jerome Powell (via Federalreserve.gov)
Jerome H. Powell took office as Chairman of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. Mr. Powell also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. Mr. Powell has served as a member of the Board of Governors since taking office on May 25, 2012, to fill an unexpired term. He was reappointed to the Board and sworn in on June 16, 2014, for a term ending January 31, 2028.
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