In this Monday, Dec. 16, 2013 photo, specialist William Geier, left, works on the floor of the New York Stock Exchange. Investors took to the sidelines Tuesday, Dec. 17, 2013, a day ahead of a key policy decision from the U.S. Federal Reserve that may see the central bank reduce its massive monetary stimulus. (AP Photo/Richard Drew)
NEW YORK (AP) — Nobody wanted to stick their neck out on Tuesday.
The stock market edged slightly lower as the Federal Reserve started a two-day policy meeting that may herald the beginning of the end for its economic stimulus.
Few expect that the Fed will announce that it plans to pare back, or ‘taper,’ its huge bond-buying program after its meeting wraps up on Wednesday. However, good news on the U.S. economy this month, including a blockbuster jobs report, and a budget deal in Washington appeared to have increased the likelihood of a change.
“It’s just the taper drama, that’s really all the market seems focused on,” said Dean Junkans, CIO for Wells Login to read more