{"id":17882,"date":"2021-06-18T07:35:05","date_gmt":"2021-06-18T05:35:05","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=17882\/"},"modified":"2021-06-18T07:35:05","modified_gmt":"2021-06-18T05:35:05","slug":"fed-gives-breathing-space-until-autumn","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/fed-gives-breathing-space-until-autumn\/","title":{"rendered":"Fed gives breathing space until autumn"},"content":{"rendered":"\n\n\n
\n

Gold<\/span>\u00a0 1783,19
\n(+0,56%<\/span>)<\/h4>\n<\/th>\n

\n

EURUSD<\/span>\u00a0 \u00a01,1902
\n(-0,04%<\/span>)<\/h4>\n<\/th>\n

\n

DJIA<\/span>\u00a0 33712,50
\n(+1,42%<\/span>)<\/h4>\n<\/th>\n

\n

OIL.WTI<\/span>\u00a0 70,235
\n(+14,93%<\/span>)<\/h4>\n<\/th>\n

\n

DAX<\/span>\u00a0 \u00a015742,50
\n(+3,70%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n

Of course the most important event of the week was the US Federal Open Market Committee meeting, where the situation in the economy was analysed and further interest rate actions were discussed. On Wednesday the results of this meeting were announced, which confused the markets a bit, which strongly affected many assets, and in particular the movement of S&P500 index.<\/p>\n


\nS&P500<\/strong><\/p>\n

\"S&P500\"<\/p>\n

In this meeting it was very important not to scare the markets off and bring them down like Ben Bernanke did in his time. After the dramatic announcements of a reduction in quantitative stimulus, the market collapsed by 10% quite quickly. The same mistake could not be made now. Fortunately the commission remembers all its blunders.
\nEverybody was waiting for this meeting, for the US Fed to clarify plans for the future, as well as to show its strength and control over the situation. According to the results of the report, inflation in the USA has accelerated so much that it simply could not be ignored. Inflation forecasts rose by 1 basis point to 3.4% by the end of 2021. In this situation, the commission had to revise its forecast for an interest rate increase. Members now believe that the rate will be raised twice by the end of 2023, but when this will be done will be decided later depending on the situation.
\nThe growth of the US economy will be the main parameter in decision-making. It will determine when rates will be raised and when the quantitative easing programme will be phased out.
\nThere are a few things to note from the press conference. It was on a positive note. Powell said that so far they are watching closely what is happening in the economy and analyzing all the parameters. Decisions will be made later, when they are sure of that. So far they are not going to curtail the program and continue to buy assets.
\nThe results of this meeting were mixed, but that’s exactly what the market needs right now. They hinted that they should be cautious and wait. Summer is holiday time. No one wants to spend it in deep contemplations about the investment future, therefore, most likely, in summer the Fed will not make any loud statements, and will wait until autumn. During the summer the situation will normalise and the major indices may even try to make new highs. The best part will start in autumn, when the heated inflation and the economy will start to be extinguished a bit.<\/p>\n

05.00 Bank of Japan interest rate decision and press conference
\n08.00 German producer price index for May<\/p>\n

\n

Important Notes on This Publication: <\/small><\/p>\n

The content of this publication is for general information purposes only. In this context, it is neither an individual investment recommendation or advice nor an offer to purchase or sell securities or other financial products. The content in question and all the information contained therein do not in any way replace individual investor- or investment-oriented advice. No reliable forecast or indication for the future is possible with respect to any presentation or information on the present or past performance of the relevant underlying assets. All information and data presented in this publication are based on reliable sources. However, Bernstein Bank does not guarantee that the information and data contained in this publication is up-to-date, correct and complete. Securities traded on the financial markets are subject to price fluctuations. A contract for difference (CFD) is also a financial instrument with leverage effect. Against this backdrop, CFD trading involves a high risk up to the point of total loss and may not be suitable for all investors. Therefore, make sure that you have fully understood all the correlating risks. If necessary, ask for independent advice.<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Gold\u00a0 1783,19 (+0,56%) EURUSD\u00a0 \u00a01,1902 (-0,04%) DJIA\u00a0 33712,50 (+1,42%) OIL.WTI\u00a0 70,235 (+14,93%) DAX\u00a0 \u00a015742,50 (+3,70%) Of course the most important event of the week was the US Federal Open Market…<\/p>\n","protected":false},"author":37,"featured_media":17595,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-17882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nFed gives breathing space until autumn | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"Of course the most important event of the week was the US Federal Open Market Committee meeting, where the situation in the economy was analysed and further interest rate actions were discussed\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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