Here comes the Fed…
AP Images
Janet Yellen
The Federal Reserve will be out with a statement on its latest monetary policy decision at 2 p.m. ET Wednesday.
No one is anticipating any major changes. However, folks will be on the lookout for the Fed’s appraisal of recent economic data.
“Given the data-dependency of monetary policy, it is important for the FOMC to describe the economic status in a way that it can manage market expectations,” said Lewis Alexander, Nomura’s chief economist, in a note.
“The weaker-than-expected March employment report and core CPI might demand further elaboration regarding the committee’s intentions to overlook weak Q1 data,” he added.
Most market-watchers expect the Fed will raise rates again at its June meeting. Even with a weaker-than-expected jobs report in March, policymakers can look at the labor market’s relative, long-run strength as evidence for continuing hikes.
The World Interest Rate Probability data provided by Bloomberg shows the market thinks there’s a 69.6% chance the central bank will move in June.
The US dollar index is little changed at 99.09 as of 11:39 a.m. ET.
Refresh this page for updates at 2 p.m. ET for the Fed’s decision and accompanying statement.
Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.
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