Federal Reserve Chairman Jerome Powell has some furtherexplaining to do after the central bank's monetary messageswhipsawed financial markets over the last month.
Powell holds a press conference at 2:30 p.m. on Wednesday inWashington following a two-day meeting of the Federal Open MarketCommittee (FOMC). Investors expect the FOMC to keep interest rateson hold. Its policy statement will be scrutinized for hints thatofficials still expect to raise rates twice this year, as theyforecast in December.
But the message may be more nuanced, and Powell's delivery morescrutinized, because the outlook has been clouded by cooler globalgrowth and the impact of the U.S. government shutdown. The risk ofmisinterpretation could be high.
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