New era at Fed

• The Federal Open Market Committee is widely expected to hold rates unchanged in a 2.25 percent to 2.5 percent target range when it announces its latest decision at 2:00 p.m. today.

 

• Chair Jerome Powell’s new communication era kicks off 30 minutes later with a press conference that will now follow every monetary-policy announcement.

 

• Economists expect both the statement and press conference to emphasize “patience” in raising interest rates, especially as the shutdown has left policymakers without much of the latest economic data ahead of today’s decision.

 

(Source: Bloomberg)