Federal Open Market Committee News
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Here’s what to look for when the Federal Open Market Committee releases a statement and new economic forecasts at 2 p.m. tomorrow after a two-day meeting in Washington and Chairman Ben S. Bernanke holds a press conference at 2:30 p.m.:
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Emerging-market stocks fell, led by Thai and Turkish shares, as concern grew that the Federal Reserve will signal reduction in stimulus. India’s rupee and Russia’s ruble paced losses among developing-nation currencies.
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Treasury 10-year note yields were in the tightest range in more than a month amid speculation the Federal Reserve may indicate when it will begin slowing bond purchases at the end of its two-day policy meeting tomorrow.
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The Canadian dollar declined for a third day versus its U.S. peer amid speculation the Federal Reserve may indicate when it will begin slowing monetary stimulus in the U.S., the nation’s largest trading partner.
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Updated 48 minutes ago
U.S. stocks rose for a second day, pushing the Standard & Poor’s 500 Index to its highest in June, as investors awaited the outcome of a Federal Reserve policy meeting for clues to the central bank’s plan for stimulus.
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Copper fell to the lowest in six weeks in New York as Federal Reserve policy makers begin a meeting that may indicate when the central bank will start curbing debt purchases intended to stoke the U.S. economy.
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A gauge of U.S. corporate credit risk held at about the lowest in a week as investors await a Federal Reserve statement tomorrow for any clues that the central bank may pare unprecedented stimulus efforts.
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European stocks were little changed as U.S. housing starts for May missed estimates amid concern the Federal Reserve will signal stimulus cuts at its policy meeting starting today.
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U.K. stocks climbed, sending the benchmark FTSE 100 Index higher for a fourth day, as the Federal Reserve began its two-day meeting on monetary policy.
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The forint fell the most in more than a week on speculation that Hungary’s planned tax increases will hurt economic growth and as investors awaited a signal from the U.S. Federal Reserve about when it will taper stimulus.
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