The US Federal Reserve is scheduled to publish its latest interest-rate decision on Wednesday after a two-day policy meeting. Its calendar lists the statement for 2 pm Eastern time, followed by a press conference at 2.30 pm.
The decision will be watched well beyond the United States. Changes in US interest-rate expectations can move the dollar, government-bond yields, global equities and capital flows into emerging markets, including India.
The question is bigger than one rate
The immediate decision is only part of the story. Investors will examine how the statement describes inflation, employment and economic activity, then listen for clues about the December meeting.
At its September meeting, the committee raised its target range by a quarter percentage point to 3.75%–4%. That makes the balance between persistent inflation and economic resilience central to Wednesday's communication.
