# Fed lifts rates, Powell leaves door open to another hike in September

> The Federal Reserve raised its benchmark rate by a quarter point on July 26 to a 5.25%-5.50% range, its 11th hike in 12 meetings. Chair Powell said more slowing was needed and left the door open to another increase.

- Date: 2023-07-26 · published 2023-07-26T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/35277-fed-lifts-rates-powell-leaves-door-open-to-another-hike-in-september
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Higher US borrowing costs strengthen the dollar and raise financing costs for feed and grain traders, a mild headwind for dollar-denominated commodity prices.

## Read by commodity

- DXY: bullish ▲
- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 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% |
| DXY | 2023-07-26 | [FOMC Meeting: Fed Raises Rates to 22-year High, Leaves Door Open for More - Bloomberg](https://feedsoft.ai/events/34956-fomc-meeting-fed-raises-rates-to-22-year-high-leaves-door-open-for-more.md) | +0.6% | +2.1% |
| DXY | 2016-12-15 | [Fed lifts rates, sees faster pace of hikes in Trump's first year](https://feedsoft.ai/events/6463-fed-lifts-rates-sees-faster-pace-of-hikes-in-trump-s-first-year.md) | +1.6% | +1.1% |
| DXY | 2026-01-01 | [Fed sees only one rate cut in 2026; no hike ahead, says Powell](https://feedsoft.ai/events/21688-fed-sees-only-one-rate-cut-in-2026-no-hike-ahead-says-powell.md) | +0.3% | -1.5% |
| CORN | 2016-12-15 | [Fed lifts rates, sees faster pace of hikes in Trump's first year](https://feedsoft.ai/events/6463-fed-lifts-rates-sees-faster-pace-of-hikes-in-trump-s-first-year.md) | -2.2% | +0.5% |
| CORN | 2023-03-08 | [The U.S. dollar bounces to 2023 high as Fed’s Powell signals higher rates - MarketWatch](https://feedsoft.ai/events/37056-the-u-s-dollar-bounces-to-2023-high-as-fed-s-powell-signals-higher-rates.md) | -1.6% | -0.6% |
| CORN | 2026-08-31 | [Fed Chief Warsh Puts Prices Over Jobs, Lifting Rate-Hike Odds to 57% - Seoul Economic Daily](https://feedsoft.ai/events/17812-fed-chief-warsh-puts-prices-over-jobs-lifting-rate-hike-odds-to-57-seoul.md) | -0.3% | +2.6% |

## Sources

- ca.finance.yahoo.com: https://ca.finance.yahoo.com/news/fed-poised-hike-rates-markets-050145799.html

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