The U.S. Federal Reserve is expected to keep interest rates unchanged on Wednesday as it continues to monitor the impact from weakening global growth but may seek to signal to markets it is determined to resume policy tightening this year.
The Fed has held its overnight lending rate for banks at a target range of between 0.25 and 0.50 percent since it lifted the benchmark interest rate for the first time in a decade from near zero last December.
Since then the Fed has signaled more caution, despite the U.S. economy's relative strength, as concerns a slowing China would depress global growth sparked steep stock price declines and tighter financial market conditions early in the year.
Fed officials reconvened Wednesday morning as scheduled for the second day of the two-day meeting, a Fed spokesperson said. A policy decision statement is due to be released at 2 p.m. ET. Fed Chair Janet Yellen is not scheduled to hold a press conference.
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