Federal Open Market Committee (FOMC) July meeting minutes will be published today

July 30 – 31 Federal Open Market Committee (FOMC) meeting minutes are due on Wednesday 21 August 2024.

Of more focus this week, of course, is Fed Chair Jerome Powell’s speech at the Jackson Hole Symposium on Friday.

At the July meeting the FOMC kept the Federal Funds rate unchanged between 5.25%-5.50%, a widely expected decision.

• the statement noted that inflation was making progress towards the 2% target
• also said that the risks of not achieving maximum employment and price stability have become more balanced

Federal Reserve Chair Powell’s press conference followed:

• Powell indicated that a rate cut “could be on the table” if inflation continues to fall

A key risk from the meeting is anything to suggest that a september
rate cut is unlikely. this seems to be a tail raisk though.

Due at 2pm US Eastern time:

This article was written by Eamonn Sheridan at www.forexlive.com.