(as of 7:00 AM PST)
The much anticipated Federal Reserve meeting starts today, with a decision on whether to raise interest rates likely due tomorrow. Markets are mixed to start the day. Oil and gold are on the upswing. Inflation numbers this morning show nothing more than a whiff of inflation in the air, which is another argument for the Fed to do nothing this go around. But uncertainty is the investors nemesis and too much waffling by the Federal Open Market Committee (FOMC) could be an overall negative for markets. Therefore it would seem likely that the Fed would act and start the long process of rate increases that will normalize the economy. Recent economic news has shown weakness with the Empire Manufacturing Index, a key measure of industrial activity in the northeast, showing a continuing two month contraction. Federal Express also checked in with lower profits and concern about a decrease in shipping demand.
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