After the Federal Open Market Committee’s (FOMC) November meeting concludes tomorrow, investors will have a better idea of the Fed’s take on the current economy. Little is expected to change in this policy statement as Fed officials wish to stay out of the markets’ forefront.
After Chairman Powell’s comments drew some blame for sparking a selloff last month, the Fed will try to avoid a similar reaction this time around. Markets will be looking for consistency in terms of economic growth and pace of rate hikes.
If the economy has maintained its rapid growth rate, the Fed will likely leave rates unchanged and push the next expected rate increase into December.
Additionally, the Fed’s statement tomorrow may provide some clarity regarding their 2019 plans. Transparency regarding their intentions is important to both prevent a dramatic market reaction and demonstrate their decisions are not influenced by recent market activity. While interest rates are an important barometer of the economy, they should not be influenced by periods of market volatility.
Given recent conditions, any unexpected news could spark quick market moves. Traders should be aware of the timing of releases and the potential implications various terms could mean for markets. Tomorrow’s statement will be released at 2 pm EST and can be found here.
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