FOMC Begins Two-Day Meeting

The Federal Open Market Committee (FOMC), the monetary policy-setting arm of the Federal Reserve, begins its two-day meeting today. It is not expected to end in a rate change.

The committee last raised the federal funds target rate to its current range of 2.25 to 2.5 percent at the end of its December meeting, the fourth rate hike of 2018.

At the end of the FOMC's May meeting, Federal Reserve Chairman Jerome Powell indicated that the committee does not plan to cut rates anytime soon.

The FOMC is set to meet four more times before the end of the year.