By Liz Moyer
Investing.com -- Stocks fell ahead of the Federal Reserve’s decision on interest rates as investors turn to the Fed’s outlook on various economic measures.
Wednesday’s decision, expected at 14:00 ET (18:00 GMT), will include the Fed’s so-called dot plot, which shows each decision-maker’s projections for short-term rates and signals the path of interest rates.
Fed Chair Jerome Powell's remarks in recent weeks spell out the central bank’s determination to quash inflation even if that means causing economic pain.
It is those fears of a recession as the Fed aggressively moves rates higher that have weighed on stocks in recent days.
The Fed isn’t the only central bank facing down inflation and trying to react accordingly, with other meetings this week by policymakers in the U.K., Japan and Brazil. The latter two are expected to release their next moves on interest rates later on Wednesday, while the U.K. will make its announcement on Thursday.
Here are three things that could affect markets tomorrow:
1. Fed press conference
Following the release of the statement, the Fed’s Powell will preside over a press conference at 14:30, fielding questions on the direction of the economy and likely whether a soft landing is still possible.
2. General Mills earnings
The packaged food company General Mills Inc (NYSE:GIS) reports earnings on Wednesday. Analysts see earnings per share of 99 cents on revenue of $4.7 billion.
3. Lennar earnings
Home builder Lennar Corporation (NYSE:LEN) also reports earnings. Analysts see EPS of $4.86 on revenue of $8.9 billion.