Mike McKee

The economic assessment is very short and relative to recent statements.

slightly positive.

Available indicators suggest that economic activity has been expanding at a solid pace, it says.

Job gains have remained low, and the unemployment rate has shown some signs of stabilization.

Inflation remains somewhat elevated.

The officials say uncertainty about the economic outlook remains elevated, but they don't emphasize jobs as they have the last three statements or inflation as the major concern.

The committee is attentive to the risks to both sides of its dual mandate, the statement says.

The open market desk at the New York Fed is again told to maintain an ample level of reserves by buying Treasury bills or, if necessary, maturities of up to three years or less.

It's all about as plain vanilla as you can get, which shifts the focus, of course, to Chairman Powell's news conference at the bottom of the hour.

What does he say about the future of interest rates?

And what does he say about his future as a member of the Fed?

Stay tuned.

So the question now... Will Jay Powell talk about policy only or will he delve into the politics of his relationship with the president and the Fed's relationship with the Trump administration?

What's the Fed's strategy here?

Engage or...

We are not expecting the Fed to change anything with its benchmark rates.

The kind of key question for Wall Street is, what do they say about the future?

Do they continue to include the phrase that in considering the extent and timing of additional moves in the Federal Reserve rate?

We're a whole lot happier than we were yesterday or when the last time they took their survey.

56.4 up from 54.