The following are brief expectations for today's FOMC Septemberpolicy statementas compiled from the related research reports of 15major banks. Overall, the consensus expects the FOMC to maintain the Fed funds target range unchanged, and to formally announce thestart of the balance sheet reduction in October. On the USD front, the focus seems to be on the FOMC's new median inflation forecasts and its dot-plot projections. Credit Agricole Research:We expect the FOMC to announce the start of balance sheet tapering in October, in line with the parameters already released and that should come as of little surprise to ... (full story)