Market participants wait for the Federal Reserve to release 'dot plot' tomorrow

The Federal Reserve will conclude the September FOMC on Wednesday. The meeting will be capped with a new policy statement and interest rate decision which will be released at 2 PM EDT and a press conference by Chairman Powell to be held at 2:30 PM EDT. The Fed is not expected to raise interest rates according to the CME's FedWatch tool, there is a 99% probability that the Fed will not raise their benchmark rate tomorrow.

According to a publication by the Federal Reserve Bank of San Francisco,"The Summary of Economic Projections offers important insights into the views of Federal Open Market Committee participants. The summary's"dot plot" charts each participant's assessment of the appropriate path for monetary policy given their economic outlook."

In June the Federal Reserve announced a pause in interest rate hikes. However, the quarterly economic projections that accompanied that decision revealed that 12 out of the 18 voting members anticipated two more ¼% rate increases by the end of this year.

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