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Minutes from the January FOMC meeting show policymakers favored a patient approach to rate policy. They cited tightening financial conditions, uncertainty over government policy, and softness in core and total inflation.
A patient Fed reduces the pressure for a stronger dollar, which can support US commodity prices and export competitiveness. The outlook is a modest macro tailwind for feed prices.
reuters.comFeb 20, 2019After 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.
