The meeting marks Federal Reserve Chair Kevin Warsh's second policy decision since taking office. Investors are also waiting for a series of major economic reports that could influence the Fed's next move. Several economists argue policymakers may prefer to wait for additional economic data rather than surprise markets with an immediate rate increase. The developments in the Middle East continue to influence global oil markets and inflation expectations. Several Fed officials have continued to argue that additional tightening may ultimately be necessary if inflation fails to move convincingly toward the central bank's goal.