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The FOMC meeting already happened?

During Chair Yellen’s press conference, we’d expect there to be questions relating to any discussions the Fed has had about economic programs discussed by the Trump administration, notably the $1 trillion infrastructure package Donald Trump touted as recently at February 28. In the past, however, Fed officials have demurred at providing any color around the central bank’s thinking, given that any impacts this may or may not have on the economy are largely unknown on account of details about this plan being scarce. The Fed’s policy statement itself, while perhaps not quite as exciting given the expected rate hike and commentary form Chair Yellen, should also get an update and perhaps show an improved outlook from the Fed on the economy. In the January statement the committee said: ‘Near-term risks to the economic outlook appear roughly balanced,’” This time we expect the FOMC to indicate that risks to the outlook are ‘balanced,’ which the committee has not said since December 2015. The statement may also drop the reference to ‘near-term’ if Fed officials want to indicate a brighter medium-term outlook as well.

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