FOMC: No change in policy is expected - BBH

Analysts at BBH suggest that there is no press conference following the upcoming FOMC meeting, and no change in policy is expected. 

Key Quotes

“At the end of last week, the Fed completed the first month of its balance sheet operations.  The net seven basis point increase in 10-year yields this month are not seen as a function of the reduction of the balance sheet.  The FOMC statement may be shorter with minor technical changes, though its assessment of the economy could be tweaked upward.”

“Market Impact:  Headline risk”