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Market Update: FOMC Rate Decision Time Again! Wed 2pm EST

April 28, 2015

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In case you don’t know, the FOMC announcement that is scheduled every 6 weeks starts today the 28th April, and final decisions of  the federal funds rate is publicly announced tomorrow at 2pm EST April 29th.

It’s all about the rate: will it be raised or held steady?  I found this great article in Futures Mag where they compiled the comments made by the FOMC voters who vote for the rate change on the decision published tomorrow.

Analyze the recent public comments from FOMC voters:

Fed Chairwoman Janet Yellen (Mar. 27): “I believe that the appropriate time has not yet arrived, but I expect that conditions may warrant an increase in the federal funds rate target sometime this year.”

Fed Vice Chairman Stanley Fischer (Apr. 16): “We’d like to see the economy beginning to grow again and grow at a decent rate, and we’d like to see unemployment continue to come down and some signs that inflation is…heading toward the 2% target [before raising rates].”

President William Dudley (Apr. 20): “Hopefully [economic data will] support a decision to lift off later this year… I can’t tell you when normalization will occur.”

Governor Jerome Powell (Apr. 8): “The time [to hike interest rates] is coming, and I do expect it will be this year.”

President Jeffrey Lacker (April 15): “I think a strong case can be made that short term interest rates should be higher right now.”

President Dennis Lockhart (Apr. 16): “[A June rate hike is] not my preference … I think waiting a while longer improves the chances of seeing confirmation from incoming data that the economy is on the desired path.”

President Charles Evans (Mar. 25): “I think economic conditions are likely to evolve in a way such that it will be appropriate to hold off on raising short-term rates until 2016.”

President John Williams (Mar. 23): “I think that by mid-year it will be the time to have a discussion about starting to raise rates.”

If you want to read entire article you can go here:

http://www.futuresmag.com/2015/04/28/fomc-preview-when-will-effect-wicked-winter-weather-wane

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