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The markets are focused on the interest rate decision of the US Federal Reserve (Fed), which will be announced on November 1 at 21:00 Turkish time. During the week, several Fed officials, including Fed Chairman Jerome Powell, made critical statements. Expectations of keeping the policy rate stable strengthened after Powell’s remarks. The CME FedWatch tool shows a 99.9% probability that the Fed will keep interest rates unchanged.
Critical Statements from Fed Officials
Global markets are focused on the interest rate decision of the US Federal Reserve, which will be announced at 21:00 on November 1. The statements made by Fed officials during the week strengthened expectations that the Fed will keep the policy rate stable.
Fed Chairman Powell gave critical signals regarding the interest rate decision to be announced on November 1 in his statements. Powell once again emphasized the 2% inflation target in his speech and highlighted wage increases. Fed Chairman Jerome Powell stated that wage increases are slowing down and that the increase in bond yields could also reduce the need for monetary tightening by the Fed.
Expectations that interest rates will be kept stable strengthened in the markets after Powell’s speech. In addition, Philadelphia Fed President Patrick Harker made similar statements and gave strong signals that interest rates could be kept stable.
Eyes on the Fed Interest Rate Decision in the Markets
After Fed Chairman Jerome Powell, global markets turned their attention to the Fed interest rate decision, which will be announced on November 1 at 21:00 Turkish time, with the statements made by several Fed officials during the week. Philadelphia Fed President Patrick Harker also made critical statements during the week.
Harker claimed that employment is surprisingly strong and expressed his support for keeping interest rates stable. The consecutive statements made by Fed officials strengthened expectations of keeping interest rates stable. In fact, the CME FedWatch tool also indicates a 99.9% probability that the Fed will keep interest rates unchanged.
