TD Research discusses its expectations for today's FOMC policy decision.
"Fed officials have been emphasizing that the economy is far from recovered, and risks are tilted to the downside, but the official data have continued to surprise on the upside. Against that backdrop, and with election uncertainty lingering, we don't expect any new policy announcements to come out of the FOMC meeting, but potential changes to QE and associated guidance will likely be discussed," TD notes.
"The Fed is likely to be an after-thought as the post-election period should dominate. Recount risk and COVID leave us tactically cautious. Established FX ranges to hold," TD adds.