The Federal Open Market Committee convenes for its upcoming meeting on Wednesday and Thursday of this week. In play at this meeting to discuss U.S. monetary policy is whether the Fed will raise interest rates for the first time in a decade with a quarter point increase off of the zero bound. The market promises to be completely transfixed by this gathering that will culminate with a post meeting press conference by Fed Chair Janet Yellen on Thursday afternoon, not long after the meeting statement is released at 2PM. So given the importance of this upcoming meeting to investors, exactly what can we reasonably expect from the stock market in the coming week both leading up to and following the meeting and press conference? If history is any guide, the stock market may be setting up for a positive week regardless of how the Fed moves.
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