TOMORROW is a BIG day
The U.S. Federal Reserve is widely expected to chop another $10 billion from its monthly bond purchases at a meeting on Tuesday and Wednesday but make few, if any, other concrete policy moves.
Given the lack of drama, all eyes will be focused on whether officials tip their hand on longer-term plans for interest rates.
Policymakers, including new Fed Vice Chair Stanley Fischer, will release updated projections for the economy and for when they think rates should finally rise from near zero. They could also surprise investors with more detail on how they plan to eventually shrink the U.S. central bank’s swollen balance sheet.