WSJ's Hilsenrath: Fed Likely To Look Past Russia Turmoil

The Federal Open Market Committee is likely to look past market turmoil in Russia when it meets on Wednesday, said Jon Hilsenrath, who covers the Fed for The Wall Street Journal. In a video chat, Hilsenrath referenced several points, which he said indicate how the Fed will likely view the turmoil. Among them, emerging-markets instability from early in the year, which didn't result in the Fed pausing its plan to taper its bond-buying program. Then in November, Fed Chairwoman Janet Yellen said the objective of the central bank was to be transparent and methodical, not reactive. The FOMC statement will be released at 2 p.m. Eastern Time, with a press conference to follow at 2:30 p.m. Eastern. See preview