Tomorrow evening the latest interest rate decision will be delivered from the Federal Reserve (Fed) in the US. Chairman Jerome Powell will speak after the decision providing his latest thoughts on the economy and the forecast from the Fed's perspective.
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The US is starting to experience a slowdown, with last month’s Non-Farm Payroll job numbers some of the lowest increases seen in several years. The Fed is expected to give a cautious statement suggesting that interest rate hikes are going to be few and far between in 2019 which is not what investors have been accustomed to, following a 1% rise in 2017 and 2018.
Donald Trump has been one of the most outspoken critics of the Federal Reserve in the past few months after their interest rate hikes essentially wiped out the extra funds received by Americans from his tax cuts.
Trump is a big believer that by encouraging consumers to spend money that it will greatly strengthen the economy through jobs.
The US has been on something of a boom the last year however the current path looks as though things may need to change. The US dollar is still strong against sterling with the interbank rate still hovering just above the 1.30 level, however if there was to be a resolve on Brexit then this could result in some market volatility.
Make sure you’re in contact with your broker in order to discuss your best options if you’re looking to complete a transfer.
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