In the Asian session on Thursday (March 23), the latest price of the U.S. dollar index was 102.39, and the opening price was 102.55. It is expected that the U.S. economy will grow by 0.4% in 2023, which will continue to be downgraded from the December 2022 forecast, while raising inflation expectations for this year.
The Federal Reserve concluded its two-day monetary policy meeting on the same day and announced that it would raise the target range of the federal funds rate by 25 basis points to between 4.75% and 5%. On the same day, the Federal Reserve released its economic outlook forecast, making the latest forecast for the US economic outlook for this year and next. root
According to the economic outlook, 17 of the 18 members of the Federal Open Market Committee believe that the federal funds rate is expected to be higher than 5% this year. Among them, 10 members expect interest rates to rise to between 5% and 5.25% this year. This also means that the Fed may raise interest rates only once this year.
