An important indication of the likelihood of a relatively early move from Fed will be the extent to which the post-meeting statement is more upbeat about recent economic developments compared to the last meeting in April.
A number of recent indicators, including May employment and retail sales, have suggested that economic growth has rebounded, after hibernating over the winter. Markets will also look for hints from both the statement and Chair Yellen's post-meeting press conference for the timing of lift-off. However, the Committee will probably be reluctant to add anything to previous comments that any move will be "data dependent".
The updates to FOMC participants' interest rate forecasts (the 'dot plot') will show whether most still expect interest rates to rise this year, and their expected path over both the short and longer term. We expect a first change in policy rates at the September FOMC meeting, said Lloyds Bank
