FXStreet (Delhi) – Research Team at RBC Capital Markets, suggests that the January FOMC meeting will be all about the press statement given no press conference from Yellen or any update to the economic forecasts. Key Quotes “As usual, the Fed will make market-to-market tweaks to the section on the economic backdrop. Soft Q4 GDP (we think 1.2%) will probably soften their current assessment a bit when it comes to household spending and business investment. However, the very robust payroll print for December (and a plethora of other constructive jobs metrics) means that the characterization on the labor backdrop will remain robust, i.e., something along the lines of “solid” job gains should be a base case scenario. Look for modestly more dovish inflation language on the back of the recent decline in breakevens—the Fed will note that “market-based measures of inflation compensation moved lower” or something similar. Given the recent turmoil in the markets, the committee might also be compelled to insert language similar to that in the September press release when they highlighted potential risks from “recent global economic and financial developments.” We think the market is probably braced for such an addition as well.” For more information, read our latest forex news.