Fed’s Moment of Truth in Trade War Era

All eyes are on the Federal Reserve, whose interest rate decision is due this afternoon. The Federal Open Market Committee (FOMC) is expected to release its policy statement at 2 p.m. ET, followed by a press conference with Fed Chair Jerome Powell at 2:30 p.m. Analysts predict that the central bank will keep its policy rate within the 4.25%-to-4.50% range. However, attention is focused on its economic projections, which will reflect the impact of President Donald Trump’s recent policies.