Economics
Wall Street Persists With Fed Dot Obsession: Decision Day Guide
- Fed chairman brushes off dot plot but investors beg to differ
- Economic forecasts and Powell press conference to yield clues
This article is for subscribers only.
Federal Reserve Chairman Jerome Powell has repeatedly played down the central bank’s “dot plot” as a guide to future interest rates, but Wall Street just won’t take the hint.
While the Federal Open Market Committee is almost certain to raise rates a quarter point at the close of a two-day meeting Wednesday, investors are focused on whether the panel will signal one or two additional 2018 hikes when it releases updated interest-rate forecasts with the policy decision at 2 p.m. Powell will begin his press conference 30 minutes later.