President Donald Trump has unveiled a trio of major trade deals over the past month, including a pact with the European Union that covers nearly $2 trillion worth of commerce between two of the world’s biggest economies.
But the lack of detail provided for public scrutiny, as well as pushback from some trading partners over the size and score of direct investment pledges, leaves the Federal Reserve with limited information from which to plot its next slate of growth and inflation forecasts.
That likely means today’s rate-setting meeting in Washington will provide the market with little direction on interest rates, which have remained pinned at between 4.25% and 4.5% since the start of the year.
