AP Economics Writer
WASHINGTON (AP) — Economists and investors who are trying to get a fix on what the Federal Reserve may do in the months ahead have zeroed in on a single phrase in the statement it has issued after its most recent policy meetings.
The phrase seems innocuous enough. The Fed's policymakers, it states, "will act as appropriate to sustain the expansion."
The question is, will the Fed keep or drop that phrase in the statement it will issue when its latest meeting ends Wednesday? Dropping it would be seen as a hint that the rate cut the Fed is set to announce this week — its third this year — will be the last one it expects to make for 2019.
Chairman Jerome Powell has said that the central bank's rate reductions are intended as a kind of insura