NEW YORK (TheStreet) -- The Federal Reserve will announce its updated monetary policy today, and investment adviser Ronald Gelok tells TheStreet's Joe Deaux why he doesn't expect the Fed will reduce its bond-buying program this month.
Gelok reasoned that the Fed has tied its monetary policy to the economic outlook, and more specifically, the labor market.
While employment has been improving the past few months, it hasn't been consistent enough to warrant backing away from the Fed, he said.
Gelok added that a decision to taper now would fuel a decline in the stock market and hurt investor confidence, which took so long to improve.
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Another point Gelok argued is that China has signaled it will be buying less debt from the U.S. Treasury.
The Fed is also a buyer of U.S. debt, and it wouldn't be a good idea for both China and the Fed to reduce purchases at the same time, he said.
So when should the Federal Reserve taper?
Golek concluded that the Fed will begin tapering in March, but cautioned that if the economy takes a sudden downturn, the Fed is likely to postpone tapering for even longer.
-- Written by Bret Kenwell in Petoskey, Mich.