{"id":196500,"date":"2023-09-20T11:45:00","date_gmt":"2023-09-20T15:45:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=196500"},"modified":"2023-09-20T12:47:32","modified_gmt":"2023-09-20T16:47:32","slug":"fed-to-preserve-flexibility-sep-20-2023","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/fed-to-preserve-flexibility-sep-20-2023\/","title":{"rendered":"Fed to Preserve Flexibility: Sep. 20, 2023\u00a0"},"content":{"rendered":"\n<p>With the Federal Reserve expected to skip an opportunity to raise the fed funds rate today, Chairman Jerome Powell is likely to strike a hawkish tone during his post-meeting press conference and emphasize that future rate hikes are still an option.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Powell has previously likened the Fed\u2019s current stage of the inflation battle to a car slowing as it reaches its destination. For Powell, who is a professed Grateful Dead fan, this could be the equivalent of driving slower after a highway exit while traveling to a concert knowing that a long portion of the road trip through winding local roads is still ahead. This long strange trip includes surprisingly persistent inflation, volatile commodity prices, a resilient economy and continued tightness in the labor market despite the Fed having already raised the fed funds rate 525 basis points (bps). Meanwhile, additional energy inflation pressures are possible with Saudi Arabia and Russia extending oil production cuts until the end of the year and the potential for labor union actions to sustain wage pressures, especially with the ongoing United Auto Workers strike that is targeting the Big Three automakers.&nbsp;&nbsp;<\/p>\n\n\n\n<p>While investors have previously downplayed Powell\u2019s hawkish statements, they are onboard with his previous comments about taking a patient approach to fighting inflation and the need for the Fed to assess the impact upon the economy of previous rate hikes. The market is pricing a 99% chance that the fed will leave rates unchanged today. Meanwhile, market players have set a 28.9% probability of a 25-bp hike at the November meeting.&nbsp;&nbsp;<\/p>\n\n\n\n<p>As the Fed strives to avoid making comments that could be misconstrued as a commitment to future changes in its fed funds rate and balance sheet while providing investors with guidance on the economy, small revisions to the Federal Open Market Committee\u2019s statement can be insightful, and in this case, the potential edits may imply that the central bank believes that economic growth is strengthening and\/or inflation risks are softening. For this meeting it\u2019s possible that the committee may make the following modifications of its July statement:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Change \u201cmoderate\u201d to \u201cstrong\u201d in the sentence: \u201cRecent indicators suggest that economic activity has been expanding at a moderate pace.\u201d&nbsp;&nbsp;<\/li>\n\n\n\n<li>Change \u201cremains elevated\u201d to \u201cis slowly cooling\u201d in the sentence: \u201cInflation remains elevated.\u201d&nbsp;<\/li>\n\n\n\n<li>Remove \u201chighly\u201d from the sentence: \u201cThe Committee remains highly attentive to inflation risks.\u201d \u202f&nbsp;<\/li>\n\n\n\n<li>Remove \u201cadditional\u201d in the sentence: \u201cIn determining the extent of additional policy firming that may be appropriate to return inflation to 2 percent over time, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments.\u201d&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>The Summary of Economic Projections is likely to be today\u2019s highlight alongside Powell\u2019s remarks. I\u2019m expecting heightened alterations to the median forecasts for gross domestic product, inflation and the federal funds rate. Robust consumer spending and elevated fiscal spending have driven stronger economic growth while supporting inflation. The primary shock to inflation more recently, however, has been commodities, with oil prices jumping for four consecutive months. Indeed, crude oil has led to pain at the pump for consumers, rising from a year-to-date low of $63.61 per barrel in May to a high of $92.62 just yesterday. Sturdy consumption, stimulative fiscal spending, persistent services inflation and hot commodity prices are likely to lead to higher forecasts for the federal funds rate in 2024 and 2025 while leaving 2023 unchanged at 5.6%. While signaling one more rate hike in November through the central bank\u2019s dot plot, the outlook for the federal funds rate in 2024 and 2025 will likely be raised from 4.6% and 3.4% to 4.9% and 3.9%. Projections for core PCE inflation are likely to be upwardly adjusted from 2.6% in 2024 to 2.9% while leaving 2025 unchanged at 2.2%, marking it as the year the Fed potentially reaches its 2% inflation target.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-markets-off-to-a-sluggish-start-nbsp\"><strong>Markets Off to a Sluggish Start<\/strong>&nbsp;<\/h2>\n\n\n\n<p>Markets are quiet ahead of Powell with the action likely to come later on. In the meantime, equities are up slightly while bond yields have declined at the margins, partly due to better-than-expected inflation data out of London. The small-cap Russel 2000 Index is leading the pack, rising 0.5%. The Dow jones Industrial and S&amp;P 500 indices are up 0.5% and 0.1% while the Nasdaq Composite is down 0.2%. Internal breadth is strong, with all sectors higher except technology and communication services. Yields and the dollar are lower, with the 2- and 10-year maturities down 3 bps each to 5.07% and 4.33% while the Dollar Index is down 38 bps to 104.81. The greenback is depreciating relative to the euro, pound sterling, franc, yuan, yen and Canadian and Aussie dollars. WTI crude oil is giving up some of its recent gains, declining 0.2% to $90.35 per barrel.\u202f&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-fed-to-remain-flexible-in-fighting-inflation-nbsp\"><strong>Fed to Remain Flexible in Fighting Inflation<\/strong>&nbsp;<\/h2>\n\n\n\n<p>The Fed is likely to preserve its flexibility this afternoon. By maintaining a firm stance against inflation while leaving the door open for more rate hikes, the central bank anchors financial conditions. The messaging helps in subduing inflationary pressures. Doing the opposite by shifting toward an accommodative stance and pointing out the committee\u2019s accomplishments will likely loosen financial conditions, risking a renewed acceleration in price increases.\u202f&nbsp;<\/p>\n\n\n\n<p>Visit\u202f<a href=\"\/campus\/traders-academy\/economics\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Traders\u2019 Academy<\/strong><\/a>\u202fto Learn More About Economic Indicators.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With the Federal Reserve expected to skip an opportunity to raise the fed funds rate today, Chairman Jerome Powell is likely to strike a hawkish tone during his post-meeting press conference and emphasize that future rate hikes are still an option.  <\/p>\n","protected":false},"author":903,"featured_media":182367,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[12711,18,6,8,9,26,3],"tags":[9362,77,2141,850,3598,10115],"contributors-categories":[13760],"class_list":{"0":"post-196500","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ibkr-economic-landscape","8":"category-macro","9":"category-north-america","10":"category-region","11":"category-securities","12":"category-text-articles","13":"category-traders-insight","14":"tag-economic-outlook","15":"tag-fed","16":"tag-fomc-meeting","17":"tag-interest-rates","18":"tag-market-outlook","19":"tag-rate-hikes","20":"contributors-categories-ibkr-macroeconomics"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Fed to Preserve Flexibility: Sep. 20, 2023\u00a0<\/title>\n<meta name=\"description\" content=\"With the Federal Reserve expected to skip an opportunity to raise the fed funds rate today, Chairman Jerome Powell is likely to strike a hawkish tone...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/196500\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fed to Preserve Flexibility: Sep. 20, 2023\u00a0 | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"With the Federal Reserve expected to skip an opportunity to raise the fed funds rate today, Chairman Jerome Powell is likely to strike a hawkish tone during his post-meeting press conference and emphasize that future rate hikes are still an option.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/fed-to-preserve-flexibility-sep-20-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-20T15:45:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-20T16:47:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/federal-reserve-featured-img.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"563\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jose Torres\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jose Torres\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\\\/\\\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            \"@type\": \"NewsArticle\",\n\t            \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/fed-to-preserve-flexibility-sep-20-2023\\\/#article\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/fed-to-preserve-flexibility-sep-20-2023\\\/\"\n\t            },\n\t            \"author\": {\n\t                \"name\": \"Jose Torres\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/92c2be3b6162d92fb996417221509b6e\"\n\t            },\n\t            \"headline\": \"Fed to Preserve Flexibility: Sep. 20, 2023\u00a0\",\n\t            \"datePublished\": \"2023-09-20T15:45:00+00:00\",\n\t            \"dateModified\": \"2023-09-20T16:47:32+00:00\",\n\t            \"mainEntityOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/fed-to-preserve-flexibility-sep-20-2023\\\/\"\n\t            },\n\t            \"wordCount\": 882,\n\t            \"commentCount\": 0,\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/fed-to-preserve-flexibility-sep-20-2023\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/02\\\/federal-reserve-featured-img.jpg\",\n\t            \"keywords\": [\n\t                \"economic outlook\",\n\t                \"Fed\",\n\t                \"FOMC meeting\",\n\t                \"interest rates\",\n\t                \"market outlook\",\n\t                \"rate hikes\"\n\t            ],\n\t            \"articleSection\": [\n\t                \"IBKR Economic Landscape\",\n\t                \"Macro\",\n\t                \"North America\",\n\t                \"Region\",\n\t                \"Securities\",\n\t                \"Text Articles\",\n\t                \"Traders' Insight\"\n\t            ],\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"CommentAction\",\n\t                    \"name\": \"Comment\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/fed-to-preserve-flexibility-sep-20-2023\\\/#respond\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"WebPage\",\n\t            \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/fed-to-preserve-flexibility-sep-20-2023\\\/\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/fed-to-preserve-flexibility-sep-20-2023\\\/\",\n\t            \"name\": \"Fed to Preserve Flexibility: Sep. 20, 2023\u00a0 | IBKR Campus US\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\"\n\t            },\n\t            \"primaryImageOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/fed-to-preserve-flexibility-sep-20-2023\\\/#primaryimage\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/fed-to-preserve-flexibility-sep-20-2023\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/02\\\/federal-reserve-featured-img.jpg\",\n\t            \"datePublished\": \"2023-09-20T15:45:00+00:00\",\n\t            \"dateModified\": \"2023-09-20T16:47:32+00:00\",\n\t            \"description\": \"With the Federal Reserve expected to skip an opportunity to raise the fed funds rate today, Chairman Jerome Powell is likely to strike a hawkish tone during his post-meeting press conference and emphasize that future rate hikes are still an option.\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"ReadAction\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/fed-to-preserve-flexibility-sep-20-2023\\\/\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"ImageObject\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/fed-to-preserve-flexibility-sep-20-2023\\\/#primaryimage\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/02\\\/federal-reserve-featured-img.jpg\",\n\t            \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/02\\\/federal-reserve-featured-img.jpg\",\n\t            \"width\": 1000,\n\t            \"height\": 563,\n\t            \"caption\": \"Market to Fed: \\\"Are We There Yet?\\\" Fed to Market: \\\"Quiet Back There\\\"\"\n\t        },\n\t        {\n\t            \"@type\": \"WebSite\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"name\": \"IBKR Campus US\",\n\t            \"description\": \"Financial Education from Interactive Brokers\",\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"SearchAction\",\n\t                    \"target\": {\n\t                        \"@type\": \"EntryPoint\",\n\t                        \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/?s={search_term_string}\"\n\t                    },\n\t                    \"query-input\": {\n\t                        \"@type\": \"PropertyValueSpecification\",\n\t                        \"valueRequired\": true,\n\t                        \"valueName\": \"search_term_string\"\n\t                    }\n\t                }\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"Organization\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\",\n\t            \"name\": \"Interactive Brokers\",\n\t            \"alternateName\": \"IBKR\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"logo\": {\n\t                \"@type\": \"ImageObject\",\n\t                \"inLanguage\": \"en-US\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\",\n\t                \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"width\": 669,\n\t                \"height\": 669,\n\t                \"caption\": \"Interactive Brokers\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\"\n\t            },\n\t            \"publishingPrinciples\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/about-ibkr-campus\\\/\",\n\t            \"ethicsPolicy\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/cyber-security-notice\\\/\"\n\t        },\n\t        {\n\t            \"@type\": \"Person\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/92c2be3b6162d92fb996417221509b6e\",\n\t            \"name\": \"Jose Torres\",\n\t            \"description\": \"Jos\u00e9 Torres is Senior Economist at Interactive Brokers. In this capacity, he is responsible for economic analysis, economic commentary and educational content focused on the economy. Prior to joining Interactive Brokers, Jos\u00e9 spent 6 years working as an economist in the United States government within the Federal Deposit Insurance Corporation (FDIC) and the Bureau of Labor Statistics (BLS). During his time with the U.S. government, Jos\u00e9 frequently led presentations covering economic conditions and forecasts for elected officials, political appointees and senior management. He also built economic models, consulted with private sector executives, contributed to the modernization of economic processes and gained recognition for predicting the inflationary episode of the 2020s. Jos\u00e9 has also been a professor of economics at the City University of New York and holds a master\u2019s degree in financial economics from West Texas A&amp;M University. His skillset includes the ability to communicate and analyze complex economic topics in English and in Spanish and throughout his career, he has been interviewed by media outlets including Bloomberg, CNBC, CNN, WSJ, AP, Yahoo Finance, Cheddar, Business Insider, Seeking Alpha, PBS, FOX, Economic Times, Univision, Telemundo and others.\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/author\\\/jose-torres\\\/\"\n\t        }\n\t    ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Fed to Preserve Flexibility: Sep. 20, 2023\u00a0","description":"With the Federal Reserve expected to skip an opportunity to raise the fed funds rate today, Chairman Jerome Powell is likely to strike a hawkish tone...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/196500\/","og_locale":"en_US","og_type":"article","og_title":"Fed to Preserve Flexibility: Sep. 20, 2023\u00a0 | IBKR Campus US","og_description":"With the Federal Reserve expected to skip an opportunity to raise the fed funds rate today, Chairman Jerome Powell is likely to strike a hawkish tone during his post-meeting press conference and emphasize that future rate hikes are still an option.","og_url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/fed-to-preserve-flexibility-sep-20-2023\/","og_site_name":"IBKR Campus US","article_published_time":"2023-09-20T15:45:00+00:00","article_modified_time":"2023-09-20T16:47:32+00:00","og_image":[{"width":1000,"height":563,"url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/federal-reserve-featured-img.jpg","type":"image\/jpeg"}],"author":"Jose Torres","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Jose Torres","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/fed-to-preserve-flexibility-sep-20-2023\/#article","isPartOf":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/fed-to-preserve-flexibility-sep-20-2023\/"},"author":{"name":"Jose Torres","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/92c2be3b6162d92fb996417221509b6e"},"headline":"Fed to Preserve Flexibility: Sep. 20, 2023\u00a0","datePublished":"2023-09-20T15:45:00+00:00","dateModified":"2023-09-20T16:47:32+00:00","mainEntityOfPage":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/fed-to-preserve-flexibility-sep-20-2023\/"},"wordCount":882,"commentCount":0,"publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"image":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/fed-to-preserve-flexibility-sep-20-2023\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/federal-reserve-featured-img.jpg","keywords":["economic outlook","Fed","FOMC meeting","interest rates","market outlook","rate hikes"],"articleSection":["IBKR Economic Landscape","Macro","North America","Region","Securities","Text Articles","Traders' Insight"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/fed-to-preserve-flexibility-sep-20-2023\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/fed-to-preserve-flexibility-sep-20-2023\/","url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/fed-to-preserve-flexibility-sep-20-2023\/","name":"Fed to Preserve Flexibility: Sep. 20, 2023\u00a0 | IBKR Campus US","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/fed-to-preserve-flexibility-sep-20-2023\/#primaryimage"},"image":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/fed-to-preserve-flexibility-sep-20-2023\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/federal-reserve-featured-img.jpg","datePublished":"2023-09-20T15:45:00+00:00","dateModified":"2023-09-20T16:47:32+00:00","description":"With the Federal Reserve expected to skip an opportunity to raise the fed funds rate today, Chairman Jerome Powell is likely to strike a hawkish tone during his post-meeting press conference and emphasize that future rate hikes are still an option.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/fed-to-preserve-flexibility-sep-20-2023\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/fed-to-preserve-flexibility-sep-20-2023\/#primaryimage","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/federal-reserve-featured-img.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/federal-reserve-featured-img.jpg","width":1000,"height":563,"caption":"Market to Fed: \"Are We There Yet?\" Fed to Market: \"Quiet Back There\""},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.com\/campus\/#website","url":"https:\/\/ibkrcampus.com\/campus\/","name":"IBKR Campus US","description":"Financial Education from Interactive Brokers","publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.com\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ibkrcampus.com\/campus\/#organization","name":"Interactive Brokers","alternateName":"IBKR","url":"https:\/\/ibkrcampus.com\/campus\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","width":669,"height":669,"caption":"Interactive Brokers"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/"},"publishingPrinciples":"https:\/\/www.interactivebrokers.com\/campus\/about-ibkr-campus\/","ethicsPolicy":"https:\/\/www.interactivebrokers.com\/campus\/cyber-security-notice\/"},{"@type":"Person","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/92c2be3b6162d92fb996417221509b6e","name":"Jose Torres","description":"Jos\u00e9 Torres is Senior Economist at Interactive Brokers. In this capacity, he is responsible for economic analysis, economic commentary and educational content focused on the economy. Prior to joining Interactive Brokers, Jos\u00e9 spent 6 years working as an economist in the United States government within the Federal Deposit Insurance Corporation (FDIC) and the Bureau of Labor Statistics (BLS). During his time with the U.S. government, Jos\u00e9 frequently led presentations covering economic conditions and forecasts for elected officials, political appointees and senior management. He also built economic models, consulted with private sector executives, contributed to the modernization of economic processes and gained recognition for predicting the inflationary episode of the 2020s. Jos\u00e9 has also been a professor of economics at the City University of New York and holds a master\u2019s degree in financial economics from West Texas A&amp;M University. His skillset includes the ability to communicate and analyze complex economic topics in English and in Spanish and throughout his career, he has been interviewed by media outlets including Bloomberg, CNBC, CNN, WSJ, AP, Yahoo Finance, Cheddar, Business Insider, Seeking Alpha, PBS, FOX, Economic Times, Univision, Telemundo and others.","url":"https:\/\/www.interactivebrokers.com\/campus\/author\/jose-torres\/"}]}},"jetpack_featured_media_url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/federal-reserve-featured-img.jpg","_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/196500","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/users\/903"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/comments?post=196500"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/196500\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media\/182367"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=196500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/categories?post=196500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/tags?post=196500"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=196500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}