Analysts also expect an updated forecast for economic growth
Underlying data should keep the central bank on the sidelines for most of this year
As a result, Fed officials invoke a 'patient approach'
Markets rally after the rate announcement
A rate hike isn't expected, but comments could shed light on the economy
Watch for GDP data and a Fed rate announcement
Lack of inflationary pressure means Federal Reserve can be patient with rate hikes
With inflation still muted, officials said in December that the central bank could afford to be "patient''
Updated forecast projects two hikes in 2019, down from three
Core retail sales exceed expectations in November