Jerome Powell, Chairman of the Federal Reserve System, will be delivering his remarks on the monetary policy outlook at a press conference following the 2-day meeting of the Board of Governors. Powell's speech today (September 18, 2019) will start at 18:30 GMT.

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The consensus amongst most economists and analysts suggest that the Fed will deliver its second rate cut of 25bps by taking the Fed Funds rate to 2.00% while making minimal changes to its statement.

When is the Fed interest rate decision and how could it affect EUR/USD?

The Federal Reserve is widely expected to lower the Fed Funds rate by 25 basis points to 1.75 - 2.00% range. It would be the second rate cut since the 2008 financial crisis. If the central bank delivers as expected, the statement and Powell’s words will be watched closely for clues about the future path of monetary policy, on how the “mid-cycle adjustment” would continue. 

About Jerome Powell (via Federalreserve.gov)

Jerome H. Powell took office as Chairman of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. Mr. Powell also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. Mr. Powell has served as a member of the Board of Governors since taking office on May 25, 2012, to fill an unexpired term. He was reappointed to the Board and sworn in on June 16, 2014, for a term ending January 31, 2028.