US Fed's tone to give hints on 2019 pace: A guide to the decision-day

Fed has upgraded its economic forecasts this year and some policy makers have voiced worry about overheating

Federal Reserve policy makers meeting in Washington will weigh how to describe a moderation in U.S. economic growth as they reinforce expectations for a fourth 2018 hike next month.

The Federal Open Market Committee is widely expected to keep the benchmark target for rates unchanged in a 2 per cent to 2.25 per cent range at the conclusion of its two-day meeting on Thursday. Its policy statement, released at 2 p.m., will likely continue to describe U.S. growth and the labour market as strong, reinforcing the outlook for a hike in December. Other tweaks in the statement could suggest less confidence