The Fed is expected to cut rates Wednesday, but it is unlikely to tell markets what they want to hear on future rate cuts.
Economists said it's unlikely the Fed forecast will include more than one more rate cut in its outlook for this year, presented on a chart, known as the "dot plot." Many in the markets are looking for two more cuts this year.
"I don't think the Fed's forecast will be green lighting a third rate cut," said Rupkey, noting he thinks the Fed will do one more after the September cut.. Powell speaks to reporters following the Fed's release of its statement and new projections on the economy, inflation and interest rates. The repurchase operation was the first since the financial crisis but there have been warnings of tight liquidity, particularly in December of last year when repo rates rose during the stock market sell off.
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