Fed to hold interest rates at near-zero

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Fed to hold interest rates at near-zero

The Federal Reserve is expected to release their latest policy decision Wednesday afternoon, in which the Central Bank is expected to carry interest rates at zero.

With the Fed signaling its patience on providing aggressive stimulus in the economy, the focus will move to Fed chairman Jerome Powell'sPowell's press conference.

The policy-setting Federal Open Market Committee has said it will not cut its $120 billion a month pace of asset purchases until it sees substantial progress, but increased optimism over the economic recovery raises questions about when the Fed could signal its intention to trim its so-called quantitative easing program.

Powell will likely be questioned about a number of other subjects in his presser, including the Fed's views on the Push for Infrastructure Bill by the Biden AdministrationBiden Administration. But with Biden in the planning to address the US Congress Wednesday, Powell may dodge any relevant questions to avoid the optics of jawboning the White House's fiscal policy ambitions.

The FOMC statement will be announced in 2 p.m. ET with the Press Conference Kickoff at 2: 30 p.m. Brian Cheung is a reporter covering the Fed, economics and banking for Yahoo Finance. You can follow him on Twitter bcheungz.

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