The Federal Reserve will make its decision Wednesday afternoon as to whether or not to raise interest rates.
But the market has already priced in the low probability of a rate hike. So now what?
"The market, I think, is looking much more so for language in the statement that says 'we are officially on pause,'" said Danielle DiMartino Booth, Former Adviser to the President of the Dallas Federal Reserve.
It has become increasingly clear in the past several months that the global economy is likely peaking, or even falling off of its peak. The U.S. economy is largely part of that picture. so with stock prices reflecting minimal to zero added monetary tightening, investors need to hear that the Fed is on "pause" with rate hikes.
DiMartino said "We're looking for the Fed to remove the word gradual from the FOMC statement." Investors want "The potential of a rate hike in March to go away," she added.