What to Watch on Wall Street for the Week of Dec. 15, 2014

For the week of December 15, 2014 we take a look at what's happening on Wall Street and beyond. On Wednesday, December 17th the Federal Open Market Committee meets to decide whether to keep its pledge to hold interest rates low for a 'considerable time.' The Fed's decision will be announced in the afternoon, along with its new forecasts for the U.S. economy as well as inflation. There are three notable earnings to watch, and they're all on Wednesday. FedEx (FDX) and General Mills (GIS) are both scheduled to post their quarterly results before the opening bell, while software maker Oracle Corp (ORCL)is set to release its earnings after the market closes. Oracle hopes to impress investors as it tries to surpass analyst expectation for its fiscal second quarter. California-based Oracle specializes in cloud services, as well as software and hardware products to other cloud service providers. On the weekly economic calendar we note the key data to look out for including the housing market index, housing starts, consumer price index, and weekly jobless claims.