The long-awaited day has arrived, where the Federal Reserve (Fed) is widely expected to increase its interest rate by 75 basis points for the third time in a row.
The decision will be announced at 2.30am Malaysian time, with investors also awaiting the latest signal from the Fed on forward guidance in policy setting.
Among the main focuses are the Fed's new projections for economic growth, the labor market and inflation in the United States.
It will give an indication of where policymakers think interest rates are headed, how long it will take for inflation to fall, and how big the impact on jobs and the economy might be over that period.
Economists from the Deutsche Bank believe that Chairman Jerome Powell will likely reaffirm the Fed's commitment to do what is necessary to bring inflation back to target even if forced to risk the economy heading into recession.
Jerome Powell is scheduled to speak after the policy decision is announced which will be interpreted as either a hawkish next move or a slower rate of hike.
August inflation data surprised the market with a still high record, rising at 8.3% compared to 8.5% recorded the previous month.
