The Federal Reserve's FOMC announcement is due at 1800GMT ( will include new quarterly forecasts ) and Chair Powell's press conference will begin at 1830 GMT.
Earlier previews can be found here:
- Welcome to Fed week
- Fed preview: Premature celebration?
- Fed could weigh on USD/JPY - Credit Agricole
- FOMC a green light to higher rates and broad USD upside - BofA
Adding now this snippet from JP Morgan:
- main event ... should be the interest rate forecast "dots." While it's a close call, we think the median dot for 2023 will show one hike, up from no hikes in the last projection from December. This will likely be accompanied by a material upward revision to the growth outlook, and a much smaller upward revision to the inflation outlook.
- The statement should be revised to reflect the better employment and spending news since late January, but we believe it will retain its overall cautious posture toward the outlook.
- We don't expect any news, in either the statement or Powell's prepared remarks, about the path toward tapering.
- We don't expect a technical adjustment to the interest on excess reserve (IOER) rate.
- We wouldn't rule out learning anything about the supplementary leverage ratio (SLR)... we think it's much more likely that any announcement is made on a non-FOMC day.
