The U.S. Federal Reserve Bank will be holding its two day monetary policy meeting starting June 13 and 14th.

The FOMC meeting will conclude with the release of the monetary policy statement and the interest rate decision.

Officials will also be releasing the quarterly economic projections and a press conference.

According to the swaps and futures markets, the U.S. short term interest rates are expected to rise 25 basis points, bringing the Fed funds rate to 1.75% – 2.0%.

The data comes amid strong patch of economic data from the U.S. Recent reports showed that the U.S. economy has been gaining momentum.

Despite a soft pace of increase in the GDP in the first quarter which was 2.2%, economists believe that the U.S. economy gained traction in the second quarter of this year.

The U.S. labor market was also seen to be strengthening strongly with the unemployment rate falling to an eighteen year low in the month of May.

The U.S. consumer prices were also seen holding to the Fed’s 2% inflation target rate.

All indicators of the economy point to a second rate hike this year.

Investors will be concerned on whether the Fed would be able to squeeze in a fourth rate hike given the current pace of the economy.

This is likely to be reflected in the FOMC press conference that will be chaired by Jerome Powell after the Fed’s decision.