Forecast Prices for Commodities Before Fed Rate Decision

The Fed’s interest rate — which notably influences price fluctuations of bitcoin, gold, energy, and others — is projected to be maintained following the Fed’s policymakers meeting ending on Wednesday (3/20//2024).

Jessica Gabriela Soehandoko & Artha Adventy

20 Mar 2024 - 19.30
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Forecast Prices for Commodities Before Fed Rate Decision

Illustration - Gold bar./Bisnis/Courtesy of Bloomberg.

Bisnis, JAKARTA — The Fed’s interest rate —notably influences bitcoin, gold, energy, and other price fluctuations — is projected to be maintained following the Fed’s policymakers meeting ending on Wednesday (20/3/2024).

At the same time, market participants also forecast a 59 percent chance of rate cuts beginning in June 2024. FHN Financial chief economist Chris Low said the market's focus is currently on the timing of the Fed’s rate cut.

"Not that the Fed is expected to cut at this meeting, but any clues chair [Jerome] Powell might offer for when the first rate cut could come," Low said, as quoted by Reuters on Tuesday (3/19/2024).

Analysts have warned that the Fed may hint at keeping rates higher for longer, given high inflation rates at the consumer and producer levels. SEB Bank analyst Dana Malas said recent US data indicates gradual steps towards increasing inflation risks.

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Forecast Prices for Commodities Before Fed Rate Decision

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