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Fed’s Dot Plot May Back Up Powell’s Patience: Decision-Day Guide

  • Improving outlook makes the Fed’s rate forecasts a closer call
  • FOMC statement may highlight inflation likely to be transitory
Bloomberg business news
WATCH: Here’s what to expect from the Fed meeting.Source: Bloomberg

While Federal Reserve Chair Jerome Powell has promised to maintain aggressive support of the U.S. economy, the central bank’s quarterly economic forecasts will show how many of his colleagues share his commitment.

The Federal Open Market Committee is all but certain to hold interest rates near zero at the conclusion of its two-day policy meeting on Wednesday, and repeat a vow to keep buying bonds at the current $120 billion monthly pace. The panel will release a statement and its forecasts at 2 p.m. in Washington and Powell will hold a press briefing 30 minutes later.