Wall Street Breakfast: Fed Meeting Puts Powell In Hot Seat

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The FOMC is expected to leave borrowing costs unchanged today as it maintains a "patient" monetary policy stance in the midst of a strategy rethink. It's a tough balancing act for Fed Chairman Jerome Powell, who will want to avoid sounding too dovish, due to the strength of the U.S. economy and the fact financial conditions have improved considerably in the last several months. Tilting to hawkish could also spook financial markets and draw the ire of President Trump, who yesterday called for the Fed to cut rates by a percentage point and a return to quantitative easing.

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