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The Federal Reserve kept its benchmark short-term interest rate near zero and projected it would stay there through at least 2023. The rate has been at this level since March, when the Fed took extraordinary steps to support credit during the pandemic recession.
The Fed also upgraded its outlook for the economy in 2021.
Near-zero U.S. rates reduce the yield advantage of holding dollars, which tends to weigh on the dollar and support dollar-priced commodities such as grains and oilseeds.
apnews.comCHRISTOPHER RUGABER, MARTIN CRUTSINGERDec 16, 2020After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
