Fed Decision Day Guide: Cooling Economy to Forward Guidance

Here’s what to look for when the Federal Open Market Committee releases its policy statement at 2 p.m. Wednesday in Washington. Officials won’t provide updated economic projections, and Federal Reserve Chair Janet Yellen isn’t scheduled to hold a press conference.

-- Economic outlook: Investors will scrutinize changes to the description of the economy for hints on the likely timing of liftoff after policy makers all but ruled out an interest-rate increase at this meeting.