Having been blindsided by surging inflation pressures, one of the most closely watched parts of the Federal Reserve meeting set to conclude Wednesday is what central bank forecasts will say about the inflation outlook.
The Federal Open Market Committee meeting will almost certainly result in an increase in what is now a near zero target rate range, with a move up by a quarter percentage point. The Fed may also tip its hand on how it will start shrinking its $9 trillion dollar balance sheet later this year.
