Fed Policy Makers Won't Rock the Boat This Week, Says Economist

The Federal Reserve is unlikely to rock the boat this week, as a two day meeting on interest rate policy kicks off on Tuesday. The FOMC is widely expected to hold rates steady when it announces its policy decision on Wednesday. 'I don't think they're going to tip their hand and say a rate hike is imminent,' said Gus Faucher, Deputy Chief Economist at PNC. 'There are questions about what's happening to inflation right now. Inflation if anything has moved a little bit lower over the past couple of months. The Fed would like to see stronger inflation.' The Fed's announcement will come one day before the release of first quarter GDP, which is expected to show tepid growth. Faucher spoke with TheStreet's Rhonda Schaffler in New York.