The Federal Open Market Committee (FOMC) began its two-day policy meeting on Tuesday morning, with Wall Street eagerly awaiting the Fed Dot Plot. Investors now anticipate that the Federal Reserve won't move to cut interest rates after the March meeting, but still debate the number and timing of future cuts. Federal Reserve Bank of Dallas former president Robert Kaplan joins Yahoo Finance to break down the current economic backdrop and how it impacts the Federal Reserve's policymaking. Kaplan elaborates on macroeconomic trends: "The economy remains resilient, however. And the job market remains very strong. There's been a little bit of increase in labor supply which is helpful to the Fed, and that's why the unemployment rate ticked up. But the truth is, there's still very strong demand for labor...The big cross current that I think the Fed is dealing with, and they may or may not want to acknowledge, is fiscal spending." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino

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