Farewell To Janet Yellen At FOMC Meeting
US shares have slightly lifted in anticipation of Fed meeting. Yesterday, equities saw a significant drop. Still, throughout the whole January, there was a 7% growth and further rises are likely to come. Investors assume that FOMC is going to deliver some hints about a rate hike in March (the odds are at 70%), the economic outlook and the judgment of dollar’s continuing softness. Also, today’s meeting will mark the last time appearance of Janet Yellen as the Fed Chair, as she’s about to be replaced by Jerome Powell.
The US is about to release ADP employment, employment cost index, Chicago PMI and pending home sales. The earning data will particularly have an impact upon market.