The Federal Reserve wraps up its two-day policy meeting on Wednesday. Chris Beauchamp, a markets analyst at London-based IG Markets will be looking for commentary from central bankers on inflation and consumer spending, along with any clues on the timing of its looming rate hike. Even though Fed Chair Janet Yellen told Congress earlier in July that a 2015 rate hike is likely, Beauchamp said he's expecting the Fed to pull the trigger in early 2016. Though Beauchamp hopes to see reassurance from the Fed that investors shouldn't obsess over the initial rate hike, but instead focus on the overall path to higher interest rates, which have remained close to zero since December 2008. TheStreet's Scott Gamm spoke to Beauchamp.