The FOMC meeting is the focus Wednesday. No one expects any rate moves at this meeting but all will watch for clues on the outlook for the economy and policy from the FOMC statement or its updated Dot Plot forecasts and from Fed Chair Jerome Powell in his press conference with reporters.

Markets generally expect the Dots to show two rate cuts in the second half of the year and a third in 2026, unchanged from the December survey, but the murky economic situation makes it a tough call. The market is also looking for lower growth forecasts and higher inflation expectations. Finally, there's a lot of interest in what the FOMC says about winding down its balance sheet reduction.

Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.

Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.