The Federal Reserve is widely expected to hold interest rates steady Wednesday.Some expect the central bank's next policy move could be a rate cut.
Focus will be on whether the central bank changes its outlook for the economy. Officials last forecast 2.3% growth this year, but a string of"We do expect the Fed to tone down its description of household spending and inflation," said Joe Brusuelas, chief economist at RSM."It would not be surprising to observe a shift in language around inflation expectations, as having drifted down in recent months.
Officials have since then signaled they would take a more cautious stance toward monetary policy, citing several new strains as they dropped a reference to"further gradual increases” at the last meeting in January. As stimulus fades and global trade tensions continue, some even see lowering borrowing costs as the next policy move.
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