The Latest: As Fed eyes rate hike, markets edge lower

Markets Associated Press

  • Federal Reserve Board Chair Janet Yellen speaks during a news conference about the Federal Reserve's monetary policy, Wednesday, Dec. 14, 2016, in Washington. The Federal Reserve is raising a key interest rate for the first time in a year, reflecting a resilient U.S. economy and expectations of higher inflation. The move will mean modestly higher rates on some loans. (AP Photo/Alex Brandon)

    Federal Reserve Board Chair Janet Yellen speaks during a news conference about the Federal Reserve's monetary policy, Wednesday, Dec. 14, 2016, in Washington. The Federal Reserve is raising a key interest rate for the first time in a year, reflecting ... a resilient U.S. economy and expectations of higher inflation. The move will mean modestly higher rates on some loans. (AP Photo/Alex Brandon) (The Associated Press)

  • Federal Reserve Board Chair Janet Yellen speaks during a news conference about the Federal Reserve's monetary policy, Wednesday, Dec. 14, 2016, in Washington. The Federal Reserve is raising a key interest rate for the first time in a year, reflecting a resilient U.S. economy and expectations of higher inflation. The move will mean modestly higher rates on some loans. (AP Photo/Alex Brandon)

    Federal Reserve Board Chair Janet Yellen speaks during a news conference about the Federal Reserve's monetary policy, Wednesday, Dec. 14, 2016, in Washington. The Federal Reserve is raising a key interest rate for the first time in a year, reflecting ... a resilient U.S. economy and expectations of higher inflation. The move will mean modestly higher rates on some loans. (AP Photo/Alex Brandon) (The Associated Press)

The Latest on the Federal Reserve's monetary policy meeting (all times local):

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5:35 a.m.

Stock markets around the world are mostly lower and the dollar is stable as investors anticipate the Fed's first interest rate increase this year.

Given that it's a near certainty that the Fed will raise its benchmark interest rate by a quarter percentage point to a range of 0.50 percent and 0.75 percent, investor interest will revolve around what Fed officials and Fed Chair Janet Yellen in particular say about the pace of future increases.

After Asian indexes mostly closed lower, European indexes were down slightly. Britain's FTSE 100 and Germany's DAX were both 0.3 percent lower. Dow and S&P 500 futures were also down, by 0.1 percent.

The dollar was stable against Japan's currency, at 115.17 yen, and the euro was up almost 0.1 percent at $1.0637.

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How the Fed manages its policies in coming months isn't clear against the backdrop of Donald Trump's election and might not be clear even after it issues a statement and Chair Janet Yellen holds a news conference.