Fed decision ahead, U.S. inflation data looms large - what's moving markets
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U.S. stock futures were broadly muted on Wednesday, as investors geared up for a much-anticipated Federal Reserve interest rate decision and the release of fresh inflation data out of the world's largest economy. The Federal Reserve is preparing to unveil its latest forecast for interest rates over the remainder of 2024 and beyond. Fed officials are widely tipped to leave interest rates at a more than two-decade high of 5.25% to 5.5% on Wednesday, meaning the central bank's outlook for future borrowing costs will be in the spotlight. The Labor Department's latest consumer price index, which is scheduled to be released around thirty minutes before the Fed gathering wraps up, could present a last-minute wrinkle in the central bank's policy projections. Economists forecast that annualized headline price growth in May matched the previous month's pace, but slowed on a monthly basis.

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https://www.investing.com/news/economy-news/fed-decision-ahead-us-inflation-data-looms-large--whats-moving-markets-3480607