At the same time, Federal Reserve officials will also release the latest dot plot and forecasts for future inflation and the economy.
There is not much suspense about the interest rate cut this week, but the monetary policy next year is becoming increasingly uncertain.
For investors, the biggest focus tonight is whether the Federal Reserve will signal a pause in rate cuts in January and how many times the dot plot will cut interest rates next year.
At present, it is highly likely that the Federal Reserve will continue to cut interest rates by 25 basis points. However, some observers believe that this will be a "hawkish rate cut."
If the rate cut continues this week, the federal funds rate will have been iran phone number list lowered by 100 basis points to a range of 4.25%4.50% since the rate cuts began in September .
In the policy statement , Fed officials are likely to choose to use language similar to that used in November that the risks to achieving employment and inflation goals are “roughly balanced.”
However, Barclays economists said officials may also add some language saying they expect to reduce interest rates "gradually."
Tim Duy, economist at SGH Macro AdvisorsAnother option would be to update the statement to signal the possibility of a pause in rate cuts in the near term, said
He expects the Fed to keep interest rates unchanged in January and said officials could send that message by introducing language about the timing of further rate changes.