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Minutes from the July Federal Open Market Committee meeting showed policymakers remained committed to bringing inflation down to 2%. Most participants saw significant upside risks to inflation that could require further tightening.
The committee had unanimously raised rates to 5.25%-5.50% at that meeting.
A hawkish Fed signals firmer US rates and a stronger dollar, which pressures dollar-priced grain and meal exports and can weigh on commodity prices.
reuters.comHoward Schneider, Michael DerbyAug 16, 2023After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
