FOMC preview: Inflation in view as Fed expected to hold on rates
“On Wednesday the Federal Reserve will make its third monetary policy decision of 2019. With a new GDP print showing another low reading on inflation, the Fed is expected to keep the benchmark interest rate steady at the current target range of 2.25% to 2.50%. In March, the data-dependent Fed signaled no more rate hikes for the year amid tightening financial conditions and geopolitical concerns abroad.
USAGOLD note: Though no suprises are expected, there is always the chance the market for better or worse will read something into the post meeting statement and press conference. More often than not, gold finds Fed Week a challenge. However, with policy for the time being pretty much baked into the cake, the Tuesday/Wednesday conclave could be a non-factor this time around.