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The Federal Reserve is preparing to raise interest rates but a rate hike is going to happen. The central bank has left rates unchanged at 2 percent. Despite the fact that the FOMC statement is hawkish, the US dollar did not succeed to act in response due to the higher expectation of currency traders. They wanted guarantee that a rate hike was near, but instead, they got the minimum that dollar bulls were looking for. To send the dollar higher, it was not.
If the slower growth will not ease inflationary pressures by the FOMS meeting on 5th of August, rates will have to be raised by The Central bank in Sept.
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Posted on Jun-28-2008
