The EUR/USD closed at 10:00 am at 1.16001. By 11:00 am, it closed at 1.17181. I thought his speech was a rehash of testimony he would have provided to Congress. The “nothing to see hear” nature of it told me that he would try to garner consensus of the rest of the Board members to reduce the target range for the federal funds rate probably by the 25 basis points the markets have been guessing.
At least Trump is getting his weak dollar.
Alton Drew
22 August 2025
Do you need an advocate before the Board of Governors of the Federal Reserve or the Commodity Futures Trading Commission? reach out to me at altondrew@altondrew.com.
Lawyers Write the Bets. Bankers Sell the Bets. 