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Hopes for monetary policy guidance from Federal Reserve meeting

Hopes for monetary policy guidance from Federal Reserve meeting
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Policymakers at the Federal Reserve are holding their regular two-day meeting, and the financial markets are not expected any dramatic announcements from Fed Chairman Janet Yellen when it ends on Wednesday.

Interest rates are likely to be kept at record lows and the feeling on Wall Street is that the Fed will further cut the stimulus programme of buying bonds to inject money into the US economy.

Investors are however hoping for some kind of indication that monetary policy could be tightened soon, perhaps by the Fed bringing forward its plan to lift interest rates to the end of this year, instead of late next year as it has previously indicated.

Who are the policymakers?

The Federal Reserve Open Market Committee is a 12-member group made up of the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York and four presidents from the 11 other US Reserve Banks.

with Reuters

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