The Federal Reserve’s FOMC will release its decision on interest rates and other monetary policy actions today at approximately 2:00 pm EST. The rate decision will be followed by a live video press conference held by Federal Reserve Chair, Janet Yellen. While there is little expectation of a change in interest rates (currently at .25%), traders will be looking for information regarding activities related to non-standard monetary policy measures.
Among the programs most important to traders will be an announcement on the potential taper of asset purchases by the Fed (QE3). It is expected that the Fed will reduce its monthly bond and mortgage-backed securities purchases by $10 billion per month to $35 billion, consistent with the last reduction in March of a similar amount.
At the previous press conference in March, Ms. Yellen expressed that further reduction of asset purchases by the Fed would be contingent on employment and inflation growth rates. Both employment and inflation have moved positively towards the target set by the Fed to begin normalization of monetary policy.
He is a regular market analyst and writer for ForexTV.com. He holds a Series 3 and Series 34 CFTC registration and formerly was a Commodities Trading Advisor (CTA). Tim is also an expert and specialist in Ichimoku technical analysis. Tim is also a licensed Property & Casualty; Life, Accident & Health Insurance Producer in New York State.
In addition to writing about the financial markets, Mr. Kelly writes commentary on Politics and Social issues. He is also an occasional contributor to the Technology and Science sections of the Web site.
Mr. Kelly attended Boston College where he studied English Literature and Economics, and also attended the University of Sienna, Italy where he studied studio art.
Mr. Kelly has been a decades-long community volunteer in his hometown of Long Island where he Established the community assistance foundation, Kelly's Heroes, he has also been a coach of Youth Lacrosse for over 10 years, Prior to volunteering in youth sports, Mr. Kelly was involved in the Inner City Scholarship program administered by the Archdiocese of New York.
Prior to creating ForexTV, Mr, Kelly was Sr. VP Global Marketing for Bridge Information Systems, the world’s second largest financial market data vendor. Prior to Bridge, Mr. Kelly was a team leader of Media at Bloomberg Financial Markets, where he created Bloomberg Personal Magazine with an initial circulation of over 7 million copies monthly.
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