FRB: Press Release--FOMC statement--June 25, 2008
Press Release
Release Date: June 25, 2008
For immediate release
The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2 percent.
Recent information indicates that overall economic activity continues to expand, partly reflecting some firming in household spending. However, labor markets have softened further and financial markets remain under considerable stress. Tight credit conditions, the ongoing housing contraction, and the rise in energy prices are likely to weigh on economic growth over the next few quarters.
The Committee expects inflation to moderate later this year and next year. However, in light of the continued increases in the prices of energy and some other commodities and the elevated state of some indicators of inflation expectations, uncertainty about the inflation outlook remains high.
The substantial easing of monetary policy to date, combined with ongoing measures to foster market liquidity, should help to promote moderate growth over time. Although downside risks to growth remain, they appear to have diminished somewhat, and the upside risks to inflation and inflation expectations have increased. The Committee will continue to monitor economic and financial developments and will act as needed to promote sustainable economic growth and price stability.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Donald L. Kohn; Randall S. Kroszner; Frederic S. Mishkin; Sandra Pianalto; Charles I. Plosser; Gary H. Stern; and Kevin M. Warsh. Voting against was Richard W. Fisher, who preferred an increase in the target for the federal funds rate at this meeting.
事前の市場予想どおり、金利据え置きでした。
何のサプライズもありません。
この予想どおりの結果、マーケットはどのように反応したのでしょうか。
NYダウ
金
原油
ドル円
ユーロドル
それぞれどのように動いたか、下のチャートを見る前に想像してみてください。
１分足 結果発表の5分前からなぜか乱高下
5分足
30分足
FOMC金利、声明発表は日本時間3:15でしたが、
何故かその5分前の3:10から、意味不明の乱高下がスタート。
ファンダメンタルズも何も関係ありません。
売りと買いの綱引きで、力が勝った方に動いているだけです。