Federal Reserve Federal Open Market Committee and Scott Wren

Janet Yellen: As consensus builds in favor of a September interest rate hike, investors will look to the FOMC and Chair Janet Yellen for clues on how close the Fed is to tightening its monetary policy, according to Market Watch. I expect them to use some sort of language, maybe a couple of sentences, to indicate whether it coming in the near term or in the next few months, said Scott Wren, senior global equity strategist at Wells Fargo Investment Institute. It will be all about Team Yellen in the stock market next week with the Federal Reserve Federal Open Market Committee holding its two-day conclave. If the Fed wraps up the meeting without sending any signals on its intentions, the S&P 500 SPX, -0.70% could easily trade higher next week. There will be initial volatility but not a serious downside, said Wren, adding that any drop in the index is an opportunity to buy. However, if it hints at a September hike but does not clarify the pace or the magnitude, selling pressure is expected to build. (news.financializer.com). As reported in the news.