Still, after much volatility markets seem to have coalesced around expectations that the rate-setting Federal Open Market Committee will approve a 0.25 percentage point, or 25 basis point, increase.They're also on tap to update rate and economic projections, and Fed ChairmanHere's a quick look at everything likely to happen.If the Fed goes ahead and raises its benchmark funds rate by a quarter point, that will take it to a target range of 4.75%-5%, its highest since late 2007.
Markets agree: As of Wednesday morning, traders were assigning a more than 90% chance of a quarter-point move, according CME Group tracking.Lump these two together, because markets will be poring through both the post-meeting statement and Powell's meeting with reporters afterward for any and all clues about the Fed's future path.
The chairman will say "we are very conscious of the financial issues and we are also concerned about inflation," Sri-Kumar said. "That's why we are hiking by 25 basis points. But we will be data dependent. We will not go up too much if it will cause financial trouble to return."Every three months, FOMC members fill out their individual projections for rates on their "dot plot.
"It does not make sense to tighten monetary policy amidst ongoing stress in the banking system that could present substantial downside risk to the economy," Goldman economist David Mericle said in a note to clients Monday.Likewise, Citigroup thinks markets are being too sanguine about where the Fed goes from here.
Gotta love the bullshit forboding music CNBC uses to try to build drama around fedspeak. Apparently, they have a 13-year-old as producer
Crushing the American people you should be ashamed of yourself scumbag!
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