What is it? The rate decision is often priced in the market so it tends to be overshadowed by the FOMC Statement which is focused on the future. Short term interest rates are the paramount factor in currency valuation - traders look at most other indicators merely to predict how rates will change in the future. FOMC members vote on where to set the target rate. The individual votes are published in the FOMC statement.
When? At 2:00pm Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.
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