Economics
Powell on the Spot After Fed’s Monetary Messages Whipsaw Market
- Slowing global growth, shutdown have eased urgency to tighten
- Investors tuned to what Fed chief will say on balance sheet
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Federal Reserve Chairman Jerome Powell has some further explaining to do after the central bank’s monetary messages whipsawed financial markets over the last month.
Powell holds a press conference at 2:30 p.m. on Wednesday in Washington following a two-day meeting of the Federal Open Market Committee. Investors expect the FOMC to keep interest rates on hold. Its policy statement will be scrutinized for hints that officials still expect to raise rates twice this year, as they forecast in December.