FXStreet reports that economists at Standard Chartered Bank think that no big policy decisions are likely to be made at the 28-29 April meeting, given the policies already implemented but some adjustments will likely be made to existing policies.

"The FOMC will probably want to use the six weeks between this meeting and the 9- 10 June meeting to assess the effectiveness of already announced policies and the likely recovery path of the economy."

"The FOMC will be circumspect in discussing larger structural issues both at the meeting and the press conference. Ensuring that the Federal government's path remains sustainable as it uses fiscal policy to stabilise activity will likely become a key Fed priority."

"We expect Fed Chair Powell to stress the Fed's ability and willingness to support activity and asset markets without providing specifics. On balance, he is likely to provide an asset-market-friendly message, because there is no benefit in doing otherwise."