US Stock Market Mixed Ahead of Pivotal FOMC Rate Decision

The US stock market has opened mixed on Wednesday, following a two-day slide. Lower oil prices have brought some relief ahead of the Federal Reserve's interest rate decision later today.

Expectations are for the Fed to hike interest rates by 25 basis points to 3.75%, 4%, a move that is almost 93% priced in. The focus will be on whether policymakers validate expectations of a second rate hike this year.

Federal Reserve Chair Kevin Warsh, who was picked by President Trump on the expectation he would cut interest rates, could raise credibility concerns if he doesn't hike rates. The main focus will be on Warsh's comments, the dot plot, and updated growth and inflation forecasts.