Ahead Of Federal Reserve Statement, Stocks Are Up
After the Federal Open Market Committee finishes its two-day meeting, they will issue a policy statement at 2 p.m. ET.
The Wall Street Journal reports that they don't expect the Fed to change any of its policies. The economy continues to improve slowly and inflation is still in check, so expect the Fed continue its $85 billion monthly bond-buying stimulus.
The New York Times also reports that the stock indices were up. The Times adds:
"'With the market up 10 percent for the year so far, if the Fed changes ever so slightly, the market could have a knee-jerk reaction here,' said Steve Goldman, principal at Goldman Management in Greenwich, Conn.
"'But I don't think that will be the case,' he said. 'There are still concerns in the euro zone, and the domestic economy is decent but not as strong as we would want it to be.'"
The Fed will release its policy statement at 2 p.m. ET. Chairman Ben Bernanke will follow that up at 2:30 p.m. ET. with a press conference.
The Fed will post its statement here.
We'll update this post once those two things happen.