FOMC in Focus as Janet Yellen Enters Stage Right
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Stock futures are modestly higher ahead of today's FOMC policy statement and subsequent press conference. Notably, this will be the first meeting with Janet Yellen as Chair of the Federal Reserve Board.
Dow futures are up 10 points, S&P 500 futures are up 1.5 and Nasdaq futures are up 6.
It is widely expected the FOMC will announce another $10 billion reduction in its monthly asset purchase program. Many also expect the FOMC to drop the unemployment rate threshold from its forward guidance with the unemployment rate nearing 6.5%. Instead, the FOMC could shift guidance to a more qualitative rather than quantitative measure.
The policy statement is expected at 2PM ET with the Yellen press conference scheduled at 2:30PM ET and available online at http://www.ustream.tv/federalreserve
Dow futures are up 10 points, S&P 500 futures are up 1.5 and Nasdaq futures are up 6.
It is widely expected the FOMC will announce another $10 billion reduction in its monthly asset purchase program. Many also expect the FOMC to drop the unemployment rate threshold from its forward guidance with the unemployment rate nearing 6.5%. Instead, the FOMC could shift guidance to a more qualitative rather than quantitative measure.
The policy statement is expected at 2PM ET with the Yellen press conference scheduled at 2:30PM ET and available online at http://www.ustream.tv/federalreserve
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