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A Federal Reserve official said the FOMC raised the target range for the federal funds rate by 75 basis points to 3.75-4.00%, the fourth such increase in a row. The Fed anticipates further increases to bring inflation back to 2%, and the journey will take some time.
Continued Fed tightening supports the dollar and raises financing costs, which can weigh on commodity demand and speculative positioning. The path of rates is a key driver of the dollar and therefore of dollar-priced feed ingredients.
clevelandfed.orgMester, Loretta J.Nov 10, 2022After 4,478 past macro events, US Dollar (Broad) moved a median +0.0% over 5 sessions (51% higher; middle half -0.4% to +0.5%), and +0.1% 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.
