Can’t imagine very much new from the Fed. The combination of faltering US data and continued concerns about Europe will keep the FOMC wedded to its “lower for longer” mantra.
Hoenig will likely remain in dissent, voting to drop the “extended period” language. The surprise for today would be with Hoenig making the committee unanimous. If the lonely hawk dropped his dissent, that would probably up risk aversion, in my view.
We’ll know just over two hours from now.