KEY POINTS
  • There's virtually no chance policymakers will make a move either way on interest rates when the Fed concludes its two-day meeting Wednesday.
  • What investors will watch, instead, are the signals that come from Chair Jerome Powell and the rest of the Federal Open Market Committee about where they're leaning for the future.
US Federal Reserve Chairman Jerome Powell holds a press conference in Washington, DC, on September 20, 2023. 

The Federal Reserve meeting will most likely conclude Wednesday with the central bank not doing a whole lot of anything — just the way the market wants things for now.

There's virtually no chance policymakers will make a move either way on interest rates. Recent data has bought Fed officials time to decide their next step. Inflation, while decelerating, is still too high, and the economy is growing at a solid pace despite the highest benchmark interest rates since the early part of the century.