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By CICC At its September meeting, the Federal Reserve cut rates by 50 basis points, with its monetary policy statement emphasizing the goal of maximum employment. The Fed's actions indicate that its reaction function has shifted entirely from focusing on inflation to prioritizing employment. Officials have little tolerance for rising unemployment and do not want to jeopardize the positive outlook for a "soft landing" due to excessive tightening. Looking ahead, we believe the Fed will likely maintain a "dovish" stance until the labor market stabilizes. In the short term, the rate cuts increase the likelihood of a soft landing in the U.S., but the combination of "loose fiscal and monetary policies" could also raise medium-term inflation risks. This meeting came against the backdrop of slowing inflation in the U.S. over the past two months, coupled with signs of weakening in the labor market. The market was eager to see how the Fed would respond to these ...

The U.S. dollar index has been making upward strides over the last couple of months. A recent post by TradingView revealed that the DXY has been hovering in the 104-105 bracket of late, up from mid-July’s low of 99.5. In fact, the current level is quite close to the index’s six-month high figure of 105.43 created towards the end of last week. A rising dollar index is usually considered to be a good sign for Americans because it offers them greater purchasing power. The Dollar has been on a run. 👀 pic.twitter.com/YtNtsvDeUJ — TradingView (@tradingview) September 18, 2023 Also Read: Solana Co-founder: U.S. Govt. Should Invest in Blockchain The U.S. dollar index typically measures the currency against six major counterparts, including the euro, Swiss franc, Japanese yen, Canadian dollar , British pound, and Swedish krona. DXY ’s strength will yet again be put to the test this week. The U.S. Fed ’s interest rate decision is due soon. In...