Markets find their feet as policymakers try to chart a path forward.

Global markets recouped some of their recent losses on Wednesday, and Wall Street futures pointed to a rise when trading starts, as investors looked ahead to pivotal meetings by economic policymakers trying to rein in inflation without denting economic growth or destabilizing markets.

The main event of the day is the meeting of the Federal Reserve, which is expected to discuss raising its benchmark interest rate by three-quarters of a point,…