On Wednesday, we get the Federal Reserve’s last monetary policy decision of the year.
The decision will be released at 2:00 pm ET, and a press conference with Fed Chair Janet Yellen will start at 2:30 pm ET.
The last time a Fed meeting was accompanied by a press conference was September 17.
The Fed obviously considers what’s happening in the world economy and financial markets as it debates its next policy move and the language contained in its statement.
Here’s how different the investing world looked back in September:
- WTI crude oil was just above $US90 a barrel; right now, WTI is at about $US55.
- The yield on the US 10-year Treasury bond was 2.6%; right now, the 10-year yield is at 2.06%.
- The S&P 500 was right at 2,000; on Tuesday, the S&P 500 closed at 1,972.
- One US dollar bought about 38 Russian rubles; right now, one dollar buys about 70 rubles.
- The German 10-year bund was yielding about 1.08%; today, the 10-year bund yield is 0.6%.
- One US dollar bought about 107 Japanese yen; right now, the dollar buys about 116 yen.
- The “XLE” ETF representing the S&P 500 energy sector was 22% higher.