The major US stock indexes have backed off record highs ahead of the Federal Reserve’s all-important March meeting.
On Wednesday, that tension will finally resolve.
The US central bank is set to release its latest monetary policy decision and updated economic projections at 2:00 p.m. ET on Wednesday afternoon, with investors looking for an answer to one key question: does the Fed still think it will cut rates three times in 2024?
Recent data showing inflation hasn’t dropped as fast as expected has pushed out market forecasts for Fed rate cuts this year to three from six. The question, then, is whether a few months of stubborn inflation data will be enough to prompt a further tweak from the Fed.
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