News to Chew Before the Fed Announcement
The FOMC is just over an hour away from announcing a quarter-point hike in the overnight funds rate. This morning’s economic releases probably won’t affect the decision, but were certainly included in the committee’s final conversations. Overall, it was a mixed bag of data. The biggest head-scratcher was an unexpected spike in December job openings, which climbed from a revised 10.4 million to a five-month high of 11 million.