The meeting of the FOMC, the monetary committee of the Federal Reserve, begins today. It will end tomorrow, with the announcement of the decision on the cost of money, scheduled for 14pm (20pm in Italy). At the same time, the updates of the estimates on the American economy are expected to be released, while the press conference of Fed chairman Ben Bernanke will begin half an hour later, at about 14.30 pm (20.30 pm in Italy).
It is the second this year, after the one in March. Apart from interest rates, which in all likelihood will remain unchanged at the historic lows where they were set in December 2008, all attention is focused on the strategy on quantitative easing measures.
