Fed's Bullard: Wall Street and forecasters have been wrong so far

Fed's Bullard says that Wall Street and economic forecasters have been wrong so far.

More to come...

Market implications

The prior Federal Reserve meeting has little consequence for the FX space as the concentration was elsewhere with the US election.

However, the next meeting around will be far more compelling for investors.

We could see a change to QE very soon, potentially as soon as the December meeting, or even before if the Fed grows impatient with the deadlock at Congress, frustrated with an elusive fiscal stimulus package.

''On the policy rate, consistent with the Fed’s new policy framework and September’s Summary of Economic Projections/dot plot, we expect Fed funds to remain anchored at the lower effective bound likely through 2023,'' analysts at National Bank of Canada argued.