Forex
Fed Rate Decision Looms Large Over US Stock Market
US stocks have opened mixed as lower oil prices bring some relief ahead of the Federal Reserve's interest rate decision later today.
The Fed will announce its decision at 2 pm ET, with elevated Treasury yields, inflation, and ongoing hostilities in the Middle East keeping risk appetite limited.
Expectations are for a 25-basis-point hike to 3.75-4%, which is almost 93% priced in, leading to focus on validating expectations of a second rate hike this year.
Federal Reserve Chair Kevin Warsh's comments, the dot plot, and updated growth and inflation forecasts will be key.