The bumpy ride from earnings season last week will probably continue as traders await the Federal Open Market Committee (FOMC) meeting results on Wednesday. A 75 basis point raise in the benchmark interest rate is expected, but then we need to see how Federal Reserve Chairman Jerome Powell guides the central bank going forward.
Will Powell still be hawkish, or will he have a softer tone which could lead traders to feel like the worst is behind? FOMC days are usually pretty quiet until the report comes out, then it’s anyone’s guess.
Here are some thoughts on the Fed and this week:
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