Powell’s Future a Bigger Question Than Rates: Decision-Day Guide

Uncertainty around the economic outlook and a leadership transition at the US central bank loom large over this week’s meeting of Federal Reserve officials, who are expected to leave interest rates unchanged on Wednesday.

A jump in energy prices and disruption to supply chains stemming from the Iran war have raised the possibility of stronger inflation and weaker economic growth, prompting policymakers to signal they’re comfortable in wait-and-see mode for now. The Federal Open Market Committee is poised to hold its benchmark interest rate in a range of 3.5% to 3.75% for a third consecutive meeting.

In what’s likely to ...