The U.S. Federal Reserve on Wednesday is expected to hold interest rates steady,...
WASHINGTON - The U.S. Federal Reserve on Wednesday is expected to hold interest rates steady, shave the number of hikes projected for the rest of the year, and release long-awaited details of a plan to end the monthly reduction of its massive balance sheet.
Investors now put a 75 percent probability on the likelihood the Fed won’t raise its overnight benchmark interest rate, or federal funds rate, any more this year, according to CME Group’s FedWatch tool. The fed funds rate is currently set in a range of 2.25 percent to 2.50 percent. The more intense focus among investors may be on the balance sheet, and the Fed’s plans to stop reducing its holdings of Treasury bonds and mortgage-backed securities each month by as much as $50 billion.
Fed Chairman Jerome Powell is due to hold a press conference half an hour after the release of the policy statement.Fed officials have generally pointed to the rundown ending sooner rather than later, with perhaps just a few more months to go before the central bank hits a level where it is comfortable stopping.
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