The first day of the second quarter will bring a number of important monetary policy decisions, including the Federal Open Market Committee s
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decision on the size of a new|a fresh|a brand-new|an
asset purchase program. The committee will meet for two days and is expected to announce its decision at 16h30 GMT on Friday. At 18h15, Chairman Ben Bernanke will hold a press conference. Faros Trading analyst Brad Bechtel predicts that the FOMC will discuss the issue of how large of a new program it will launch. Most economists favour a souple program, which can be adjusted to the state of the economy. As of the time of this announcement, the outlook for the US economy is relatively positive. Core PCE inflation, which is used by the government to measure inflation, was 1 . 6% year-over-year in March. This is still a modest increase compared to the level of inflation in early 2014. The policy committee must announce a reduction of its balance of 4. 500 billion dollars before it can lower its forecast.