FOMC Meeting, No Rate Hike Expected

The Federal Open Market Committee (FOMC), the Federal Reserve's monetary policy-setting arm, began its monthly two-day meeting Tuesday. The meeting is not expected to end with a rate hike.

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

The committee previously pared its projection for 2019 from three rate hikes to two.