TD Research discusses its expectations for today's FOMC policy meeting.
"The Fed takes center stage today, likely resulting in more confusion than clarity on the future monpol prospects. While there are no policy shifts expected, markets will home in on any shifts in the dots. We expect the median dot will show no tightening through end-23 and the Fed's tone is likely to remain dovish. It's an unsatisfying mix," TD notes.
"For markets, though, that's likely to generate more volatility today. We recently turned USD neutral," TD adds.