This week marks an important period for the United States economy, as the Federal Reserve prepares to make several significant announcements.
FED INTEREST RATE DECISION
Date: Wednesday, March 19, 2024
Time: 2:00 PM ET
The Federal Open Market Committee (FOMC) is set to announce its decision on interest rates during the two-day meeting that concludes on Wednesday.
The current target range for overnight borrowing between banks is 5.25% to 5.5%, a level reached after the FOMC raised rates in December 2023 for the first time since September 2022.
Investors are eager to learn whether the FOMC will continue its tightening cycle or pause to assess the economic impact of previous rate hikes.
FED FOMC STATEMENT
Date: Wednesday, March 19, 2024
Time: 2:00 PM ET
Following the interest rate decision, the FOMC will release a statement summarizing their assessment of the economy and providing forward guidance. This statement is closely analyzed by investors for any hints about future policy moves, as it can indicate whether the Fed sees more rate hikes ahead or if they might start cutting rates.
FED FOMC ECONOMIC PROJECTIONS
Date: Wednesday, March 19, 2024
Time: 2:00 PM ET
Alongside the statement, the FOMC members will provide updated projections for growth, unemployment, and inflation over the next few years. These "dot plots" offer a glimpse into individual forecasts, providing insight into the committee's divided opinions on future monetary policy decisions.
FED CHAIR POWELL SPEAKS
Date: Wednesday, March 19, 2024
Time: 2:30 PM ET
After the FOMC meeting, Fed Chair Jerome Powell will hold a press conference to discuss the interest rate decision and offer additional insights into the FOMC's views on the economy.
This event provides a unique opportunity for investors to ask questions directly to the head of the central bank, potentially shedding light on the Fed's plans for the rest of the year.
These events are crucial indicators of the Federal Reserve's intentions for managing the U.S. economy. Stay tuned for updates and analysis following each announcement.