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30 Oct 2019

Powell speech: Fed is not thinking about raising interest rates right now

Following the Federal Open Market Committee's (FOMC) decision to lower the federal funds target rate by 25 basis points to 1.5% - 1.75% range, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is responding to questions from the press, with key quotes, via Reuters, found below.

"We do not see any danger of inflation moving up significantly."

"Inflation seems to be settling in below 2%."

"The Fed is not thinking about raising interest rates right now."

"The current stance of monetary policy will be appropriate as long as the outlook is in keeping with the Fed's expectations."

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.

Oct 30, 2019

USD/CAD breaks above 1.3200 after Fed cuts rates again and hints at pause

The USD/CAD broke higher and climbed to 1.3207, hitting a fresh one-week high following the release of the FOMC statement. The pair was already sharpl
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Oct 30, 2019

Gold dumps over $12 on another hawkish rate cut from the Fed

Gold has been volatile on the day, settling higher in the futures ahead of the Federal Reserve interest rate decision, and then falling post the rate
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