The Federal Open Market Committee (FOMC)'s policy decision will be released on Wednesday May 1 at 2 pm US EDT (1800 GMT) with Fed Chair Jerome Powell following up with his press conference at 2:30 pm (1830 GMT).

Comments from Citi come via a Reuters report:

  • after data released on Friday showed the PCE index increased at a 2.7% annual pace in March versus 2.5% in February, while the number stripped of volatile food and energy prices was 2.8%, matching February
  • "The Fed has simply run into a brick wall,"
  • "This is very strong data and it is not data that has given them any confidence they are meaningfully on their way to 2%...The Fed is simply going to have to wait."
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