Economics
Fed Chair Drama Steals Spotlight From FOMC: Decision Day Guide
- Statement may upgrade growth outlook, locking in December hike
- Rate change unlikely as focus turns to Trump’s pick Thursday
What to Look for in the FOMC Rate Decision
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As investors eagerly await President Donald Trump’s Federal Reserve chair nomination, the central bank’s policy-setting committee will meet quietly in the background this week. If all goes as expected, they’ll announce on Wednesday that they’re holding interest rates unchanged.
Trump plans to announce his pick Thursday and is said to be leaning toward selecting Fed Governor Jerome Powell. Other candidates on his shortlist include Stanford University economist John Taylor, former Fed Governor Kevin Warsh, and current Chair Janet Yellen, whom the president has called “terrific.”