Wall Street markets brace for Federal Reserve rate decision

The US Federal Reserve is scheduled to announce its monetary policy decision at 2 p.m. ET on Wednesday, with rate hike expectations driven by strong employment and inflation data.

Investors will closely examine the policy statement, updated economic projections, and Fed Chair Kevin Warsh's press conference for clues on future monetary tightening.

Crude oil prices surging past $100 a barrel amid Middle East tensions remain a key market focus due to potential pressures on inflation and consumer prices.