Page 55 - Fomc News Today

The price of gold sank $15 at the start of New York trade Wednesday as US stock markets rebounded from 3-month lows ahead of Januarys policy statement from the Federal Reserve

The statement offered no surprises, but Fed Chair jerome Powell's refusal to denounce more hawkish scenarios hurt market sentiment.

Fed Chairman Powell used the press conference to refine the central bank’s message, striking a much more hawkish note than the more tepid monetary policy statement... and sending risk assets reeling.

KUALA LUMPUR: The ringgit opened flat against the US dollar today as investors opted for a wait-and-see attitude on the latest economic assessment by the US Federal Open Market Committee (FOMC) meeting, an analyst said.

Munis are expected to underperform for another few weeks as markets remain volatile and investors reevaluate allocations.

Why are markets so sanguine about the interest rate outlook? The answer lies in the Fed’s balance sheet, and in particular the level of excess reserves placed there by commercial banks.

The ringgit is expected to linger at the current 4.18 level versus the US dollar as investors would be weighing on the outcome of the United States Federal Open Market Committee (FOMC) meeting this week.

Global trends, quarterly earnings major drivers for equity market this week: Analysts

The combination of steady supply, heavy secondary selling and inconsistent demand have moved yields to their highest levels since May 2020.

Senate Banking Chair Sherrod Brown plans an early February hearing for President Joe Biden’s three most recent Federal Reserve picks and said he expects bipartisan confirmations of all five nominees to the central bank’s board.