Highlights of the FOMC statement on January 27, 2016:
– Fed funds left in 0.25-0.50% range
– Repeats economy to warrant only gradual rate rises
– Assessing global developments for its balance of risk view
The US dollar has been choppy in the initial going. There’s a nod to financial market developments and the ‘closely monitoring’ bit is a signal to markets that the Fed is will take care not to raise rates soon.
