Flash: Fed Heads clarified Fed position - OCBC Bank

FXstreet.com (London) - OCBC Bank treasury analysts note that the Fed’s Dudley clarified that “not only will it take considerable time to reach the FOMC’s 6.5% unemployment rate threshold, but also the FOMC could wait considerably longer before raising short-term rates”.

They add that Fed’s Powell also said that the Fed may wait “before moderating purchases or even increase them” if the economy weakens, and “I want to emphasize the importance of data over date”. Meanwhile, they finish by noting that the US Senate has passed the immigration law revision by 68-32 to facilitate the path to citizenship for about 11 million undocumented immigrants now in the US.