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Tonight, an important event will take place: the press conference of the Chairman of the Federal Reserve, Jerome Powell. The Federal Reserve, often called the "Fed," is the central bank of the United States, responsible for making major financial policies.
Timing of the Press Conference:
This press conference will be held in New York at 2:30 PM, which means it will be 12:30 AM in Pakistan.
Why is this Press Conference Important?
During this event, Powell will discuss interest rates in the United States. Interest rate refers to the cost of borrowing money from a bank. If the Fed raises interest rates, borrowing becomes more expensive; if it lowers them, borrowing becomes cheaper.
Impact of Interest Rates on Markets:
If interest rates increase, different markets react in various ways:
Stock Market: Higher interest rates make borrowing expensive for companies, slowing their growth. This can lead to a decline in stock prices.
Gold Market: Investors may turn to gold since other investment options offer lower returns.
Forex (Currency Market): The U.S. dollar may strengthen as higher interest rates attract more investors.
Cryptocurrency: Crypto markets are highly unpredictable, but they may also be influenced by interest rate changes.
Interest Rates and Inflation:
Inflation means a general increase in the prices of goods and services. When inflation rises, the Fed raises interest rates to reduce people's spending, which lowers demand and helps stabilize prices.
Global Impact of the Fed’s Decisions:
Since the U.S. has the world's largest economy, any change in its interest rates affects global trade and investment, impacting economies worldwide.
Where to Watch Live?
If you want to watch the press conference live, visit the official website of the Federal Reserve.
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