At the midpoint of the March 18 week is the release of the FOMC statement and summary of economic projections (SEP) at 14:00 ET on Wednesday followed by Chair Jerome Powell’s press briefing at 14:30 ET. There’s nothing on the data calendar in the days before the FOMC deliberations that is likely to change the outlook for monetary policy, and nothing immediately after that might trigger a rethink. In his semiannual monetary policy testimony on March 6-7, Powell indicated that the current fed funds rate is probably at the peak of this tightening cycle. The fed funds rate range is currently at 5.25-5.50 percent where it ... (full story)