What You Need to Know About Wednesday’s Fed Meeting

What You Need to Know About Wednesday’s Fed Meeting
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Erin Schaff for The New York Times WASHINGTON — The big question facing the Federal Reserve as it wraps up its two-day policy meeting on Wednesday is how much the central bank should worry about United States economic growth this year. Fed officials are expected to leave interest rates unchanged at the conclusion of the meeting, but the day could still hold plenty of action for investors, lawmakers and other Fed watchers. All eyes will be on whether officials downgrade their economic forecast for 2019 in the face of data suggesting slowing global and domestic growth. And close attention will be paid to comments by Jerome H. Powell, the Fed chairman, at a news conference where he is expected to provide details on when the Fed will stop winnowing its giant holdings of Treasury and mortgage securities, which it amassed during the financial crisis. Markets will also look for any signs of creeping hawkishness from Mr. Powell, who has taken pains in recent months to stress that the Fed will be “patient” before raising interest rates again. Here’s what to watch from the meeting and news conference: How Low Will Growth Forecasts Go? The Fed last released its quarterly economic projections after its December meeting. Then, officials predicted 2.3 percent growth for the United States this year. That’s nearly a percentage point lower than what the Trump administration forecasts . But many analysts expect the Fed’s new projections to be even gloomier. Morgan Stanley researchers wrote this week that […]

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