Federal Open Market Committee (FOMC) Statement
This week's three Fed events will take place Wednesday afternoon. The first is the 2:00 PM adjournment of the FOMC meeting that begins Tuesday. This is when Fed Chairman Powell and company will decide whether or not to change key short-term interest rates. The consensus is that they will not make a change at this meeting. Because there is a wide consensus, the lack of a move itself shouldn't have a noticeable impact on the markets. But what is likely to heavily influence trading is any indication of when the Fed may make their next move, which is believed to be a possible rate cut. If there is a hint of that being a reality, the bond market should rally, causing mortgage rates to improve.