US stock index futures increased on Wednesday as investors expected an assurance by the Federal Reserve to keep interest rates to a minimum for an extended period, with positive quarterly results from FedEx also boosting sentiment.

The central bank’s two-meeting is its first under a freshly acquired framework that promises to go for inflation over 2% to make up for periods where it is running below that target. 

The Federal Open Market Committee will let out its policy statement and economic projections at 2 pm. ET (1800 GMT), followed by Fed Chair Jerome Powell’s virtual news briefing half an hour later. 

Wall Street’s major indexes have jumped after a tech-powered slump last week that pushed the Nasdaq Composite index into correction territory in only three sessions.