Goldman Sachs Research previews today's April FOMC meeting.

"The FOMC is likely to reiterate its wait-and-see message at its April meeting this week because the war with Iran continues to cloud the economic outlook and to present risks to both inflation and activity," GS notes.

"The Committee's post-meeting statement is likely to acknowledge the better labor market news and higher inflation numbers but to leave the standing policy guidance unchanged. We expect a strong consensus to stay on hold for now, with only one dissent, as in March," GS adds.