FT Alphaville " US Markets Live special, FOMC presser edition Join us at 2:10pm EST (7:10pm in London) for our live coverage of today's Fed presser. We'll do a quick recap of the statement and have a look at the new economic and fed funds projections before the presser begins at 2:15pm. We had a pre-preview last week, but we haven't seen anything better than our excellent colleague Robin "Hip Specs" Harding's piece at Money Supply on Monday. Here's an excerpt from Robin's post... What to expect Not a lot. If there are any substantive moves, I would expect them to be changes in the communications framework, rather than to existing parameters of monetary policy. Despite rampant speculation and huge swings in the markets, not much has changed at the Fed this year. In recent speeches, chairman Ben Bernanke and vice-chair Janet Yellen have spelled out a thesis about the economy, arguing that recent gains in employment reflect a "catch up" after the recession and will not be sustainable without stronger growth. It's unlikely that the Fed will get too excited about the idea of a "spring slowdown" since it did not really buy into the enthusiasm about jobs data earlier this year. Compared with March, the recent labour market data has been a bit weaker and risks from Europe have come back a little, but I'd expect "elegant variation" in the statement rather than big changes. In the Summary of Economic Projections, short-term inflation will no doubt move up a notch, while the path of unemployment rate forecasts moves downwards. GDP forecasts are likely to be little changed. In regard to the interest rate forecasts, we know that at the March meeting some FOMC members backed away from their previous view that more accommodation might be needed soon. It would be logically consistent if that meant some move towards earlier tightening in their interest rate forecasts - but these, too, are likely to be little changed. ... but do read the whole thing, and we'll see you at the usual place this afternoon. This entry was posted by Cardiff Garcia on Wednesday, April 25th, 2012 at 15:52 and is filed under Capital markets. Tagged with FOMC, markets live.