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[放炮] The Federal Reserve will release its policy statement at 2 p.m.

The Federal Reserve will release its policy statement at 2 p.m. on Wednesday, and with a rate hike already ruled out, analysts will be looking for clues about when the central bank will raise interest rates.

There won’t be new economic forecasts or a press conference so the Fed’s six-paragraph statement will be all for investors to focus on.

The key portion of the statement will be the one-paragraph summary of economic developments over the past six weeks.

Small changes in this paragraph could move markets. If the Fed is seen as much more sombre than in March, markets might translate that into a lower odds of a June move, while a relative upbeat Fed might keep the slim chances of a liftoff in June from disappearing entirely.
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