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FOMC, COVID-19, Recession, Dow Jones, Gold – Talking Points
- COVID-19 remains prime factor to economic recovery
- The Benchmark Federal Funds Rate unchanged at 0%-0.25%
- Dot plot shows rates likely to remain low until 2022
The Federal Open Market Committee[1] of the Federal Reserve left interest rates unchanged Wednesday afternoon, in line with expectations. This latest action leaves the benchmark Federal Funds rate at its historic low of 0%-0.25%. Gold[2] and the Dow Jones[3] Index shifted higher along with treasury yields. The Fed's updated 'dot plot' reveals that the majority of members expect rates to remain low until 2022. Fed Chair Powell will speak at the bottom of the hour.
Dow Jones Index (1-Min Chart)
Source: IG Charts
Spot Gold (1-Min Chart)
Source: IG Charts
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DailyFX[4] provides forex news and technical analysis on the trends that influence the global currency markets.
