Goldman Sachs FOMC Preview, April 2014

REUTERS/Brendan McDermid

A screen displays a news conference by Federal Reserve Chair Janet Yellen as traders work on the floor of the New York Stock Exchange March 19, 2014.

The Federal Reserve wraps up its two-day Federal Open Market Committee (FOMC) meeting today at 2:00 p.m. ET. At that time, we'll get their latest policy statement.

The consensus is for the Fed to leave interest rates unchanged and to continue tapering its quantitative easing program by another $10 billion.

Here's Goldman Sachs' Kris Dawsey:

The April FOMC meeting will probably be a quiet one compared with the March meeting, with no press conference or Summary of Economic Projections (SEP) to be released. The assessment of economic activity in the statement will likely be upgraded somewhat to reflect the passing weather drag, while the Fed will probably take a benign view of recent developments on inflation and financial conditions. Although the market-implied path of the federal funds rate moved up a bit since the last meeting, broader financial conditions did not tighten.

A further tapering in asset purchases of $10bn/month is almost a foregone conclusion. We anticipate no substantive changes to the policy language, following the addition of the “considerable time” forward guidance in March. It looks likely that Minneapolis Fed President Kocherlakota will not dissent at the April meeting.

So, it'll stay the course. We'll cover the announcement live at 2:00 p.m. ET today at BusinessInsider.com.

source: www.businessinsider.com