The Federal Reserve will conclude the September FOMC meeting with a new policy statement and an interest rate decision, as apparently, the FedWatch CME tool sees a 99% chance that the central bank will leave rates unchanged. Investors will also gain insight into the internal thinking of Fed members.
In addition to Powell's press conference, there will be a forecast in the 'Summary of Economic Projections', which, since January 2012, provided investors and analysts with a long-term economic forecast for the current year and the next two years. This dot plot reflects the opinions of each of the 18 voting officials.
Although the Fed announced a pause in interest rate hikes last June, quarterly economic forecasts accompanying this decision showed that 12 out of 18 members believe the need to raise rates by another quarter-point by the end of this year.
Markets halted movement in anticipation of the news, with dollar showing some weakness ahead of the meeting's decision.