Wednesday: FOMC Announcement, ADP Employment, ISM non-mfg Survey

A few excerpts from an FOMC preview by Goldman Sachs economist Spencer Hill: • We expect the FOMC to keep policy unchanged next week and see only limited changes to the statement. • Similar to the March statement, we expect constructive comments on economic activity, as we think Fed officials will view the slowdown in reported growth last quarter as temporary in nature ...We do expect a brief acknowledgement of the softer March core inflation data ... ... • We look for the balance of risk assessment and the characterization of current policy ("accommodative") to remain unchanged. We also......(read more)

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