WASHINGTON (AP) — Investors are cautious as they await the outcome of the U.S. Federal Reserve’s first meeting under its new chairman, Jerome Powell, and his subsequent news conference.
The Fed is set to announce its first interest rate increase of the year, a testament to the continued strength of the economy and of the job market in particular. The central bank raised rates modestly three times in 2017 under Powell’s predecessor, Janet Yellen, whom he succeeded last month.
Once its meeting ends at 2 p.m. Eastern time Wednesday, the Fed will issue a policy statement and update its economic projections before Powell begins taking questions from reporters.
Dow and S&P 500 futures were down 0.1 percent ahead of the Fed announcement, while the dollar was down 0.2 percent at 106.30 yen.
Most Read Business Stories
- 'Sold by Amazon' program shut down after WA attorney general's antitrust investigation
- Amazon Go is moving toward the suburbs, starting in Mill Creek
- All flights in and out of Paine Field canceled Monday as 5G bars regional jets
- Boeing reports net loss in 2021 as cost of 787 delivery halt soars to $5.5 billion
- Seattle home-price growth heats up a bit as much of U.S. cools