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The Federal Reserve is expected to leave rates unchanged on Wednesday. But Wall Street is focused on what comes in 2024 — and beyond.

Federal Reserve officials

Federal Reserve officials are widely expected to leave interest rates unchanged, but economists will watch for hints at what’s next.

Consumer prices rose 3.1 percent in the year through November, and a closely watched core index was roughly the same rate as the previous month.

Federal Reserve officials could keep all options on the table at their meeting this week, even as data shape up according to plan.

The Federal Reserve chair said officials could still raise rates “if” that becomes necessary, and that it’s too soon to guess when they will ease.

Jerome H. Powell, the central bank’s chair, has been interrupted recently by a climate group that thinks disruption will win the day.

The Personal Consumption Expenditures price index continued to cool and consumer spending was moderate, good news for the Federal Reserve.