Federal Reserve policy makers are poised to signal plans for their first interest rate hike since 2018 and discuss shrinking their bloated balance sheet as they seek to restrain the hottest inflation in nearly 40 years.
The Federal Open Market Committee is all but certain to hold its benchmark rate near zero after a two-day policy meeting Wednesday, while sticking to its plan to taper asset purchases and end them in March.
Price action ahead of the event has been typically subdued as investors and traders await the news. But what can be seen here and highlighted in the chart is that price appears to be creating a level of resistance at 114.350. Could this be a sign of whats to come upon the release of FOMC minutes with a selling off due?
The Federal Open Market Committee is all but certain to hold its benchmark rate near zero after a two-day policy meeting Wednesday, while sticking to its plan to taper asset purchases and end them in March.
Price action ahead of the event has been typically subdued as investors and traders await the news. But what can be seen here and highlighted in the chart is that price appears to be creating a level of resistance at 114.350. Could this be a sign of whats to come upon the release of FOMC minutes with a selling off due?