🚨 Brace yourselves for today's financial market turbulence.
🏛 All eyes are on the US Federal Reserve's decision on interest rates and monetary policy, set to be announced at 9:00 PM Saudi time, followed by Jerome Powell's press conference.
🔶 Investors are eagerly anticipating Powell's speech at 9:30 PM Saudi time, seeking clarity on key questions shaping the interest rate trajectory for 2024:
- Timing of potential interest rate cuts.
- Expected frequency of rate adjustments.
- Insights on the banking sector, unemployment, and inflation.
- Future plans to bolster the dollar's stability.
🇺🇸 American banks are leaning towards a consensus, predicting a status quo with interest rates remaining steady at 5.5%.