Fed: all according to plan. Overview for 21.09.2023

<p><strong>By <a href="https://roboforex.com/" target="_blank" rel="noopener"><u>RoboForex.com</u></a></strong></p>
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<p>The primary currency pair is experiencing pressure on Thursday. The current EURUSD exchange rate stands at 1.0632.</p>
<p>The US Federal Reserve decided to maintain the interest rate unchanged at its September meeting, keeping it within the target range of 5.25-5.50% per annum.</p>
<p>In the Fed’s remarks, it was noted that the decision was unanimous while leaving open the possibility of potentially increasing the rate once more before the end of the year.</p>
<p>This aligns with what the market had been expecting, indicating a potential increase in borrowing costs at the November meeting. The Fed clarified its intention to keep the rate elevated for an extended period.</p>
<p>Jerome Powell, the chair of the Federal Reserve, stated that the economy is expected to experience a so-called soft landing. While not the baseline scenario, it is considered the primary objective.</p>
<p>Overall, Powell was very cautious, enigmatic, and seemed somewhat uncertain.</p>
<p>The US dollar initially declined but swiftly recovered, maintaining a strong position.</p>
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<p><strong>Article By <a href="https://roboforex.com/" target="_blank" rel="noopener"><u>RoboForex.com</u></a></strong></p>
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