Central bank expected to hike rates by 75 basis points, but what it says about policy going forward should determine the market's trajectory analysts say
U.S. stock futures on Wednesday were firmer, though traders seemed wary of making overly bold bets ahead of the Federal Reserve’s monetary policy decision.
What’s driving markets Equity futures were a tad higher, while Treasury yields and the dollar were little changed as the market steeled itself for the latest Fed announcement on interest rates. “Investors are waiting for clues from the Federal Reserve about the path of rate rises, and in the meantime a slightly more wary mood has settled on the markets,” said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.
“Markets have been reacting to dovish expectations for Wednesday’s FOMC, which I have argued are wrong. Based on U.S. economic data out Tuesday , there is no way for the Federal Reserve to turn dovish. The labor market is still strong, and manufacturing is still expanding,” said Stephen Innes, managing partner at SPI Asset Management.
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