Wednesday’s Federal Reserve meeting may not be ordinary, with Chair Jerome Powell facing pressure from politics and subpoenas. The probability of no rate change is around 82% for March. Powell’s upcoming press conference will likely focus on questions about the Fed’s independence. The Fed is expected to pause on rate cuts to assess their impact on growth and inflation, with Goldman Sachs predicting two more cuts later this year.

Chair Powell’s term ends in May, making this meeting crucial amid political pressure. He may avoid revealing much during the press conference, focusing on economic conditions. The recent DOJ investigation and Powell’s stance on political interference will be key topics. The U.S. Dollar Index has dropped, reflecting concerns over Fed credibility. Powell’s tone will be closely watched by markets for signals on the Fed’s independence.

Read more at Yahoo Finance: Trump-Powell Showdown Makes Wednesday’s Fed Meeting About Much More Than Rates