Page 2 - Stuart Paul News Today

The Federal Open Market Committee will hold the target range for its benchmark rate at 5.25% to 5.5% — a two-decade high first reached in July — at the conclusion of its two-day policy meeting Wednesday.

The Federal Open Market Committee will hold the target range for its benchmark rate at 5.25% to 5.5% — a two-decade high first reached in July — at the conclusion of its two-day policy meeting Wednesday. The rate decision, and possibly an announcement on the pace of its balance-sheet reduction program, will be released at 2 p.m. in Washington.

Some analysts on Wall Street think Powell will say rate hikes aren't the base case but will depend on economic data and can't be ruled out.

Jerome Powell’s remarks in the coming week will be closely parsed by investors for any clues on just how long the Federal Reserve is willing to wait before…

"At the minimum, he’ll likely indicate the median FOMC participant now expects ‘less’ cuts this year."

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Most economists say the underlying momentum of the U.S. economy remains strong. But growth and jobs – which have been surprisingly sturdy – have generated little tangible benefit to Biden’s hopes for reelection.

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