Fed Meets Amid Rising Inflation But Likely to Maintain Patient Stance

• Fed meets as inflation rises again; unlikely to change interest rates but forecasts could shift • Watch "dot plot" for changes to interest rate forecasts, especially for 2024 • Powell press conference at 230pm ET; expect wait-and-see approach on potential rate cuts • Balance sheet reductions could slow; FOMC may discuss quantitative tightening • Fed statement, Summary of Economic Projections at 2pm ET; Powell press conference at 230pm ET