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Markets Await Federal Reserve Decision on Wednesday

The Federal Reserve's all-important December meeting wraps up Wednesday, December 14.
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The Federal Reserve's all-important December meeting wraps up Wednesday, December 14. Investors are pricing in a 95% probability the central bank announces a hike to short-term interest rates. This would be the second rate increase since the 2008 recession, when rates were moved to near-zero in an effort to revive the economy. The Fed is also set to release 2017 rate hike projections. Chair Janet Yellen will hold a press conference at 2:30 p.m. ET. Other important economic data on Wednesday include the producer price index and retail sales -- both for November and both released at 8:30 a.m. ET. Plus, industrial production figures for November are out at 9:15 a.m. ET. On the earnings calendar, Joy Global (JOY) releases earnings before the markets open, while Pier 1 Imports (PIR) - Get Report unveils quarterly results after the markets close. Plus, President-elect Donald Trump is holding a meeting with top technology executives on Wednesday, including Tesla (TSLA) - Get Report CEO Elon Musk, Apple (AAPL) - Get Report CEO Tim Cook, Facebook (FB) - Get Report COO Sheryl Sandberg and Alphabet (GOOGL) - Get Report executives Larry Page and Eric Schmidt, according to news reports.

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