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What to expect in the Fed statement next week

Fed Chairwoman Janet Yellen

WASHINGTON (MarketWatch) — The Federal Reserve is expected to hold interest rates steady at its meeting next week and refrain from signaling about a possible September rate hike due to continued uncertainty about the outlook for the economy in the second half of the year.

The Fed will meet on Tuesday and Wednesday. Because Fed Chairwoman Janet Yellen will not hold a press conference, all eyes are on the policy statement to be released at 2 p.m. after the talks conclude.

The Fed hiked rates last December but has refrained from moving ever since, unsure about the financial market turmoil at the beginning of the year, the lackluster growth in the first quarter. This caution was compounded by the decision late last month by U.K. voters to leave the European Union.

“I’m not sure they’re quite ready to signal the...