- NEWS Desk Global
WALL ST HOLDS GROUND AHEAD OF FED DECISION
Wall Street's main stock indexes were little changed on Wednesday as investors awaited the conclusion of the Federal Reserve's meeting where it is expected to keep interest rates unchanged and provide cues on its monetary policy trajectory. U.S. central bankers will conclude their two-day meeting later in the day. Focus will be on the Fed's policy statement, updated economic projections and Chair Jerome Powell's press conference.
Traders pulled back bets for a June rate cut to 64% from 71% at the start of last week, according to CME FedWatch data. Wall Street rallied to all-time highs this month, supported by optimism around artificial intelligence, but it has retreated a little in recent weeks after showing robust inflation shook confidence in the Fed kicking off its rate-easing cycle soon.