Wall Street set to open higher as focus shifts to Fed

The Federal Open Market Committee (FOMC) will release its policy statement at 2:00 p.m. ET after a two-day meeting. Fed Chair Janet Yellen is scheduled to hold a press conference at 2:30 p.m. ET. Traders see a less than 40 percent chance of an interest rate increase until December, according to CME Group's FedWatch tool, but will focus on the course of future hikes.