The Federal Reserve’s Open Market Committee (FOMC) meeting that began Tuesday morning ends this afternoon with a statement and press conference from Fed Chair Jerome Powell. The FOMC is widely expected to make a 25-basis-point cut to the Fed funds rate trading range, which would be the first since November 2024. This afternoon will also see updated Fed projections that may show slower U.S. economic growth and rising unemployment. Reporters will grill Powell at his press conference this afternoon, not only on the trajectory of the U.S. economy and interest rates, but also on the Fed’s independence. Some market watchers are calling this FOMC meeting the most important one of the year.
I’m going to go out on a limb just a little bit here and speculate on what several markets will do following the FOMC meeting this afternoon and then in the coming days or few weeks.
