Markets are widely expecting the Fed to keep interest rates unchanged.
The outlook for rate cuts this year continues to sour, with traders pricing in just one or two cuts by December.
AdvertisementUS stocks were mostly lower on Wednesday as traders waited for the Federal Reserve to announce its next move on interest rates.
Investors have also dialed back their outlook for rate cuts throughout the year.
At Wednesday's meeting, market watchers expect Powell to formally confirm this shift from the FOMC, which had previously forecast three rate cuts this year," Alex Kuptsikevich, a senior market analyst at FxPro said in a note.
Persons:
Stocks, —, Richard Flynn, Charles Schwab, Powell, Alex Kuptsikevich, FxPro
Organizations:
Service, Federal Reserve, Open Markets, Traders