The Federal Open Market Committee (FOMC) agenda released on the 24th of this month by the U.S. financial authorities aims to curb inflation even before subsequent statistical releases support rising price pressures. It was shown that officials were open to accelerating the pace of tapering of bond purchase programs.
“If inflation continues to rise, we are prepared to adjust the pace of asset purchases earlier than currently expected by committee members and to raise the federal funds rate guidance target range. Some participants pointed out that it should be organized as a committee. “
Price statistics released after this FOMC show a deterioration in inflation trends. Of these, the US Department of Commerce’s October 24th personal consumption expenditure (PCE) price index rose 5% year-on-year, the largest increase since 1990.
For now, it is assumed that the flow of big USD buying will continue. Perhaps the concerns that block this are the unstoppable high oil prices and the increasing number of people infected with coronavirus.
However, tonight, it is assumed that the movement will be calm before Thanksgiving.
