Here are four things to watch at the conclusion of the Fed's policy meeting on Wednesday.
In many ways, the script has been pre-written for the Federal Reserve’s policy meeting that ends on Wednesday.
With U.S. inflation running at the highest level in 40 years and labor markets tight, Fed Chairman Jerome Powell has already given the green light for a 25 basis point benchmark interest rate hike, the first since 2018, to be followed by a “series” of increases.The Fed will release a statement and updated economic forecasts at 2 p.m. Eastern, followed by Powell’s press conference at 2:30 p.m. Wednesday.
The risk is the Fed gets more aggressive. Economists at Jefferies see the Fed pointing to five rate hikes this year and five in 2023.
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