All eyes on the Fed. Again

• Policymakers at the Federal Reserve are widely expected to lower the federal funds rate by a quarter-point when they complete their two-day meeting this afternoon. 
• Barring any surprises from that announcement, attention will be trained on Chairman Jerome Powell’s press conference and whether he will give any hints on future easing.
• That’s by no means a given, considering recent U.S. data. It’s a different story elsewhere: Numbers this morning showed economic growth in the euro area slowed by half in the second quarter, the latest in a string of reports flagging a deteriorating outlook which have investors mulling the chances of a return to central bank stimulus.

(Source: Bloomberg