The FOMC wraps up there two daylong meeting today and will be making an announcement at 2:00 PM followed by the release of the FOMC Forecasts and the Chair Press Conference at 2:30. While the Fed meets eight times a year the Press Conference and Forecasts only happens four times a year which has put even more importance on today’s events.
The U.S. Federal Reserve is widely expected to chop another $10 billion from its monthly bond purchases at a meeting on Tuesday and Wednesday but make few, if any, other concrete policy moves.
Given the lack of drama, all eyes will be focused on whether officials tip their hand on longer-term plans for interest rates.
Policymakers, including new Fed Vice Chair Stanley Fischer, will release updated projections for the economy and for when they think rates should finally rise from near zero. They could also surprise investors with more detail on how they plan to eventually shrink the U.S. central bank’s swollen balance sheet.
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