#FOMCMeeting

The Federal Reserve is likely to stick to its "wait and see" mantra next week, setting the stage for a showdown with the president. 



The Federal Reserve is expected to keep its key interest rate stable when the central bank's monetary policy committee meets on Wednesday, which could further provoke the ire of President Donald Trump, who has repeatedly demanded that the Fed, which is not under the direct control of the White House, reduce its benchmark interest rate by one percentage point.

Fed officials have been under a "silent" communication period for the last week before the meeting, but before going silent, members of the Federal Open Market Committee (FOMC) said they wanted to see how the economy responded to Trump's tariffs before making any policy decisions.

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