FOMC Begins Regular Two-day Policy Meeting, No Rate Hike Expected

The Federal Open Market Committee (FOMC), the Federal Reserve's monetary policy-setting arm, begins a two-day meeting today, which 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% at the end of its December meeting, the fourth rate hike of 2018.

Following its March meeting, the committee indicated that the current range is expected to remain the same in 2019 and that only one rate hike will be in made in the next two years.

Most economists agree that the Fed will hold at the current rate through 2020, according to a new Bloomberg survey.