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  • Minutes of the Federal Open Market Committee November 1-2, 2022

    From federalreserve.gov Story is in PDF Format

    The Chair began with a discussion of ethical standards and acknowledged the great privilege and heavy responsibility that come with being entrusted to make policy decisions. There was agreement that the Federal Reserve can be effective only when there is a foundation of public trust. Participants reaffirmed the importance of holding themselves and their staffs accountable for knowing and following the high ethical standards that are set in the Committee’s policies, including those on financial transactions and disclosure and on external communications. Developments in Financial Markets and Open Market Operations ... (full story)

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A bunch of ineffective elitists with big degrees doing nothing to help the economy, talking a lot, yet saying nothing.
I think they have actually no clew what to do.
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Quoting Bakker
I think they have actually no clew what to do.
That's right , they don't, cause none of them had a "real" job and actually ran a company, made a budget, or product to sell, or had a payroll to cover every 2 weeks.
FOMC = destroy economy
GBP will get more opportunities. We should focus on the pound and will more strong especially GBP/JPY is on the long way to 180
Dont be mad. Just trade it and let it go. Because you think FED is ruining the greater economy you might as well profit from it anyway.
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Quoting Wigglesworth
A bunch of ineffective elitists with big degrees doing nothing to help the economy, talking a lot, yet saying nothing.
That is what they are paid to do and not to actually run the economy. They actually deserve bonuses as things stand. Been working really hard at extremely tough jobs.

The Crow (-_-)
Quoting Ftmofx
GBP will get more opportunities. We should focus on the pound and will more strong especially GBP/JPY is on the long way to 180
I have actually already started to short this pair. Fed just admitted a defeat and they are expecting a recession next year. Time to buy Yen.

Thing is GB is first to enter recession in my opinion, then Europe and then US.

If there is another buy coming on this pair I can say with confidence it's going to be the last one.

USD/JPY price should reach 135 perhaps even this week.

The thing I'm looking for on GBP/JPY is when we get more percentage of traders net long on this pair, the crash will be imminent.

I hope you're right, we'll have much better price to start shorting from all the way down to parity once recession hits.

Also, market seems very quiet at the moment. Calm before the storm, Fed is done and now the market will get wild.
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So what new information did we learn from this? Because I can’t find anything new that we haven’t heard already..
Quoting TheWolf
{quote} I have actually already started to short this pair. Fed just admitted a defeat and they are expecting a recession next year. Time to buy Yen. Thing is GB is first to enter recession in my opinion, then Europe and then US. If there is another buy coming on this pair I can say with confidence it's going to be the last one. USD/JPY price should reach 135 perhaps even this week. The thing I'm looking for on GBP/JPY is when we get more percentage of traders net long on this pair, the crash will be imminent. I hope you're right, we'll have much...
Really short? Technically GBP/JPY is on a strong buy and rallied to 180. You wait and see. It was a stochastic H1 minor correction and complete it. Now buy will start slow to hawkish.
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The fed will keep tightening until we're in a full-swing recession or a financial accident happens on wall st, as inflation is still running the fed is not going to pivot most likely a slowdown in rate hikes.
Quoting Ftmofx
{quote} Really short? Technically GBP/JPY is on a strong buy and rallied to 180. You wait and see. It was a stochastic H1 minor correction and complete it. Now buy will start slow to hawkish.
Either could be right. We'll see..
Will the market go wild and start buying Yen as Fed's prognosis is that the world is heading into a recession next year?

We'll see tommorow where we stand, you could be right.. as said, I hope you are!
Quoting TheWolf
{quote} Either could be right. We'll see.. Will the market go wild and start buying Yen as Fed's prognosis is that the world is heading into a recession next year? We'll see tommorow where we stand, you could be right.. as said, I hope you are!
Still, we did not get the yen to buy confirmation yet. When the yen will start to buy GBP/JPY will reach to 180
Quoting Guest
The fed will keep tightening until we're in a full-swing recession or a financial accident happens on wall st, as inflation is still running the fed is not going to pivot most likely a slowdown in rate hikes.
I agree, GBPJPY is in a solid uptrend especially after PMI data that came positive, GB's recession risk is still a threat but not in the near term.
Quoting Vancarbon
{quote} "Clue"
Yah, sorry for the mishap. Didn't even notice it.
Quoting Ftmofx
GBP will get more opportunities. We should focus on the pound and will more strong especially GBP/JPY is on the long way to 180
going to 160
“Do not lose hope, nor be sad.”
EU will go to 1.06000 or 1.10000 depending upon the next week non farm payroll is bad....if NFP is good then it will drop like anything

GBP is gonna be bullish for sure as inflation is at 11 it will bring up the interest rates and hence bullish
Quoting Logufx
EU will go to 1.06000 or 1.10000 depending upon the next week non farm payroll is bad....if NFP is good then it will drop like anything GBP is gonna be bullish for sure as inflation is at 11 it will bring up the interest rates and hence bullish
I doubt job numbers will be bad considering we’re in the holiday season.
Quoting Ftmofx
{quote} Really short? Technically GBP/JPY is on a strong buy and rallied to 180. You wait and see. It was a stochastic H1 minor correction and complete it. Now buy will start slow to hawkish.
You were right I think. We should probably hold longs until 175, perhaps 180. 171 we already have in our pockets. 175 will be tough no doubt about it. I will not buy above 175, I'll wait to short from there.

Actually, recession is inevitable next year right? Right. Now, if recession is coming that means Yen will destroy it's competition. What does market has to do? Market has to shoot up everything against Yen up in the sky, because the drop will be hard. Pound fell 13000 pips in 2007-08 against Yen. I wouldn't be surprised to see GBP/JPY close to 200 before recession hits. If market will have time..

See TheWolf's Journal (Inactive) why I now actually think Pound will appreciate immensely against Yen.
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