FOMC preview: what to expect from Fed Chair Powell
Key points
- 10-year Treasury yields hit 5% for the first time since 2007
- 0% chance of a rate hike at November's FOMC meeting*
- 30% chance of a rate hike before 2024*
*Probabilities calculated using CME's FedWatch tool
November's FOMC meeting
How to trade economic events
- Open an account to get started, or practice on a demo account
- Choose your forex trading platform
- Open, monitor, and close positions on forex pairs
Trading forex requires an account with a forex provider like tastyfx. Many traders also watch major forex pairs like EUR/USD and USD/JPY for potential opportunities based on economic events such as inflation releases or interest rate decisions. Economic events can produce more volatility for forex pairs, which can mean greater potential profits and losses as risks can increase at these times.
You can help develop your forex trading strategies using resources like tastyfx’s YouTube channel. Once your strategy is developed, you can follow the above steps to opening an account and getting started trading forex.
Your profit or loss is calculated according to your full position size. Leverage will magnify both your profits and losses. It’s important to manage your risks carefully as losses can exceed your deposit. Ensure you understand the risks and benefits associated with trading leveraged products before you start trading with them. Trade using money you’re comfortable losing.
What is the FOMC?
The FOMC, or Federal Open Market Committee, is the branch of the Federal Reserve bank that is in charge of short and long-term monetary policy decisions.
The FOMC is best known for its decisions regarding the US base interest rate, which is decided upon eight times a year in one of the most important meetings on the economic calendar.
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