Gold prices rose above $2,400 ahead of the Fed's policy meeting, according to Sagar Dua, a financial analyst at Fxstreet. The central bank is expected to keep interest rates unchanged at 5.25%-5.50% for the eighth consecutive time.
In the monetary policy statement and press conference, Fed Chairman Jerome Powell is expected to reiterate that inflation has returned to the bank's 2% target.
Powell may also highlight rising risks to the labor market. It will be difficult for Powell to set a timeline for a rate cut as the fight against inflation is far from over and the US economy is growing at a strong pace.
In the monetary policy statement and press conference, Fed Chairman Jerome Powell is expected to reiterate that inflation has returned to the bank's 2% target.
Powell may also highlight rising risks to the labor market. It will be difficult for Powell to set a timeline for a rate cut as the fight against inflation is far from over and the US economy is growing at a strong pace.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.