The Federal Reserve is edging closer to cutting interest rates as inflation cools and job creation steadies. With the bank expected to leave borrowing costs unchanged, all eyes are on Fed Chair Jerome Powell's tone. Live coverage. Join FXStreet Premium to ask our analysts questions live, read actionable insights and get Gold and signal alerts.
6% according to the Personal Consumption Expenditure , the bank's preferred gauge.Moreover, the labor market has been cooling down, with the unemployment rising to 4.1% despite ongoing hiring. Both figures seem incompatible with a high interest rate. Gold and stocks would surge on prospects of lower rates, while the US Dollar would suffer. A hawkish stance would hit the precious metal and equities, while boosting the Greenback.