Federal Reserve Board Chairman Jerome Powell holds a news conference following the announcement that the Federal Reserve raised interest rates by half a percentage point, at the Federal Reserve Building in Washington, U.S., December 14, 2022.Evelyn Hockstein | ReutersThis week’s Federal Reserve meeting will be remembered more for what policymakers say than what they do.That’s because markets have priced in a near-100% certainty — 98.9% to be exact, as of Tuesday afternoon — that the Federal Open Market Committee will announce a 0.25 percentage point interest rate increase when the two-day policy meeting wraps up Wednesday afternoon, according to CME Group data.While there’s often strong market consensus heading into FOMC meetings, it’s rarely this high.What markets are unsure of is where the Fed goes from here. Traders are betting the central bank will hike a quarter point once more in March then stop, pau …
