BREAKING: Fed sees 6 rate hikes in 2022, EURUSD trades little changed

Fed's Federal Open Market Committee (FOMC) announced its latest monetary policy today at 6:00 pm GMT. FOMC delivered a 25 basis rate hike with Fed Funds target rate being now in 0.25-0.50% range, in-line with market expectations. Median interest rate forecast in dot-plot moved higher and now suggests that Fed members expect an interest rate of 1.9% at the end of 2022 and 2.8% at the end of 2023. December's dot-plot pointed to a median expectations of 0.9%. Fed therefore sees a total of 6 rate hikes this year - in-line with current market pricing.

Initial market reaction was negative for indices with S&P 500 (US500) dropping 0.5% in a knee-jerk move. EURUSD dropped from around 1.0985 to around 1.0950. However, those moves were quickly erased.

EURUSD dipped in knee-jerk move but has since recovered all of post-decision losses. Source: xStation5

8 May 2026, 1:30 PM

BREAKING: US Labor Market Stronger Than Expected, While Wage Pressure Eases. EURUSD gains!🚨

8 May 2026, 11:59 AM

📈 EURUSD up 0.4% before the NFP

8 May 2026, 7:20 AM

Economic calendar: NFP and central bankers to fight for the spotlights with war updates (08.05.2026)

7 May 2026, 9:45 AM

NOK surges following Norges Bank's rate hike

Economic reports

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