On Wednesday the Federal Reserve wraps up a two-day rate policy meeting and package delivery company FedEx reports its latest financial results.
Most analysts expect the central bank to maintain rates at current levels. In a bid to cool red-hot post-pandemic inflation, the Fed has raised interest rates 11 times during the past year-and-a-half. The Fed’s rate currently sits at a 22-year high of 5.4%.
Analysts forecast that the the package delivery company’s earnings rose to $3.72 per share on $21.8 billion in sales in the period. In the same period a year ago, FedEx logged profit of $3.44 per share, short of Wall Street expectations. Sales have fallen for four straight quarters and investors will be watching to see if demand continues to decline.
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