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The Federal Reserve kept its federal funds target range at 2-1/4 to 2-1/2 percent and said it will be patient before any future rate adjustments. The statement noted solid job gains and low unemployment, while inflation has declined and runs below the 2 percent objective.
A patient Fed reduces expectations of near-term rate cuts, which tends to support the dollar and weigh on dollar-denominated commodity prices. The effect on feed grains and meals is modest and indirect.
federalreserve.govMay 1, 2019After 53 past bullish report events, US Dollar (Broad) moved a median +0.1% over 5 sessions (51% higher; middle half -0.4% to +0.5%), and +0.5% 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.
