The Federal Reserve is set to release its March statement on Wednesday. Steve Blitz, chief economist at ITG, doesn’t expect the Fed to announce a hike to short-term interest rates, but anticipates some optimistic messaging about the economy in the Fed’s statement, compared to its most recent one in January, when falling oil prices and a slowdown in China’s economy dominated the headlines. ‘With this meeting, there’s a little bit more stability in the underlying economy and the equity markets have clearly stabilized and rallied back from the lows,’ Blitz said. ‘While they won’t [hike rates], they’ll probably show a certain amount of optimism and confirm a schedule of tightening.’ TheStreet’s Scott Gamm reports from Wall Street.
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