# FOMC Meeting: Fed Raises Rates to 22-year High, Leaves Door Open for More - Bloomberg

> The Federal Reserve raised rates to a 22-year high and said it will move to a pace of hiking at every other meeting. Powell said policy will remain data dependent.

- Date: 2023-07-26 · published 2023-07-26T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/34956-fomc-meeting-fed-raises-rates-to-22-year-high-leaves-door-open-for-more
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A slower pace of hikes with data dependence raises uncertainty for the dollar, which affects dollar-denominated grain and oilseed export prices.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-07-26 | [Fed lifts rates, Powell leaves door open to another hike in September](https://feedsoft.ai/events/35277-fed-lifts-rates-powell-leaves-door-open-to-another-hike-in-september.md) | +0.6% | +2.1% |
| DXY | 2023-08-25 | [Gold drops after Powell leaves door open to more rate hikes](https://feedsoft.ai/events/34484-gold-drops-after-powell-leaves-door-open-to-more-rate-hikes.md) | -0.0% | +1.1% |
| DXY | 2022-07-27 | [FOMC: Fed Raises Interest Rates by 75 Basis Points to Double Down on Inflation - Bloomberg](https://feedsoft.ai/events/40388-fomc-fed-raises-interest-rates-by-75-basis-points-to-double-down-on-inflation.md) | -0.7% | +0.2% |
| DXY | 2023-01-04 | [Key Takeaways From Minutes of Fed’s December Meeting on Rates - Bloomberg](https://feedsoft.ai/events/37698-key-takeaways-from-minutes-of-fed-s-december-meeting-on-rates-bloomberg.md) | -1.5% | -2.8% |
| DXY | 2023-07-26 | [Instant View: Fed raises interest rates, leaves door open to another increase \| Reuters](https://feedsoft.ai/events/34955-instant-view-fed-raises-interest-rates-leaves-door-open-to-another-increase.md) | +0.6% | +2.1% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/live-blog/2023-07-26/fomc-rate-decision-and-fed-chair-news-conference

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.