Fed Meeting Begins : The Dow fell at the open on Tuesday as investors remained on the sidelines ahead of the Federal Reserve’s two-day policy meeting against the backdrop of rising borrowing costs.
The Dow Jones Industrial Average fell 59.3 points, or 0.18%, at the open to 32,894.37. The S&P 500 rose 6.7 points, or 0.16%, at the open to 3,975.18, while the Nasdaq Composite rose 93.5 points, or 0.69%, to 13,552.83 at the opening bell.
- With the economy about to boom, the Fed’s easy policies will be in the spotlight Wednesday when Fed Chairman Jerome Powell speaks to the press after the Fed’s two-day meeting.
- The Fed will release new economic and interest rate forecasts, which could show Fed officials expect to raise rates by 2023.
- BlackRock’s Rick Rieder said Powell’s briefing could be “exciting to see” and the Fed meeting could be the central bank’s “March Madness” for markets, since the chairman could begin to reveal some views on the future path of Fed policy.