Federal Reserve Press Release July 27, 2022
Released StatementFederal Reserve Press Release September 21, 2022
Meanwhile, note that the Fed released its short term economic projections in a document. For more in-depth analysis go through the document to see how currently the policymakers see the near term future.Economic Projections
Summary of Economic Projections
At 18:30 GMT, the Chairman of the Federal Reserve Jerome Powell hosted a press conference. Views and plans expressed in the conference have quite often reversed the market momentum and the direction of the US Dollar's value in the aftermath of the initial hike. This event was no exception. As the head of the central bank started to speak, the US Dollar declined in value, as the markets saw his statements as dovish. Afterwards, during the question phase of the press conference, the US Dollar reached below pre-hike levels. However, by the end of the conference, as the harsher questions were answered, the USD once again strengthened, because it was clear that future rate hikes are incoming.Recording of the Press Conference In regards to the main USD pair, the EUR/USD. During the event the pair booked a new low level, passing the previous September low levels. Meanwhile, note the high volatility on the five minute chart. Initial Reaction Larger scale situation