WASHINGTON (AP) — The Latest on the Federal Reserve's monetary policy meeting (all times local):
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12:50 p.m.
U.S. stocks are trading higher Wednesday afternoon as investors await news on whether the Federal Reserve will raise short-term interest rates at the completion of its two-day meeting. The decision will be released at 2:00 p.m.
Investors will also look for signs that Fed policymakers are leaning toward four rate hikes this year, rather than the three that financial markets currently expect.
Fed policymakers will also release their quarterly economic projections after the meeting. Analysts expect that they will slightly raise their forecasts for economic growth and lower their projections for the unemployment rate.
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11:00 a.m.
U.S. stocks are mixed Wednesday morning as investors wait for news on interest rates from the Federal Reserve. The Fed is widely expected to raise rates, and investors will be watching closely for clues about how many more increases the central bank may make this year and also for the Fed's assessment of how the economy is doing.
It's also the first Fed meeting since Jerome Powell took over as chairman, although so far Powell hasn't made any major breaks with the policies of predecessor Janet Yellen. Bond yields are little changed after they jumped on Tuesday.
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6:15 a.m.
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.