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Fed Seen Leaving Monetary Policy On Hold

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The Federal Reserve is seen leaving the target range for its federal funds rate unchanged at 0-0.25% during its July 28-29 meeting.

The central bank is not expected to make big changes to its asset purchase policies although investors will be looking for a discussion on additional stimulus and a change in forward guidance for the coming months.

The Policymakers are seen keeping their pledge that the Fed will do whatever it can to support the economy and that interest rates will remain at the current level for some time while reinforcing the need of fiscal stimulus.

On July 28th, the Fed announced an extension of its lending programs to businesses, governments and individuals to the end of 2020, saying that the three-month extension will facilitate planning by potential facility participants and provide certainty that the facilities will continue to be available to help the economy recover from the COVID-19 pandemic.

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