Today the financial markets are in the Federal Reserve’s complete sway. Expectations are high, since it is widely believed that the Fed will choose to increase interest rates today. In addition, they will make an announcement on their plans for 2018, where it is hoped we would hear about two or three possible further increases next year.
Relying on this information, the stock markets were moving up once more near record highs. Asian markets were also up, while Europe suffered a bit as its futures market underwent some technical difficulties.
Meanwhile, the American dollar is in a tentative spot. On the one hand, if the Federal Reserve increases interest rates, the dollar will find good support. At the same, Trump’s administration is facing new hurdles regarding tax reform, especially since Republican candidate Roy Moore failed to secure a seat for Alabama, a traditionally Republican state. This evens out the Senate a bit more and will pose a challenge to future votes on Trump’s proposals.
