FOMC (Credit Agricole) : We expect that the Fed meeting is a non-event




Credit Agricole think that the FOMC meeting could have very little impact on the Forex.

«The Fed rate should remain unchanged and the FOMC does not anticipate any change to its plan to reduce its balance sheet unless there are significant changes in the economic outlook.

The Committee will continue to discuss on the prospects of inflation and the causes of consistently low inflation.

While members dovish advocate patience, the majority seems ready to raise rates again this year at the December meeting.

Beyond December, the outlook was more unclear because of the uncertainty of the composition of the FOMC, while Trump is expected to appoint the next President on Thursday. We believe that an appointment of Jay Powell should largely confirm the current expectations, with only a small impact on USD. «



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