Waiting on Ben
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Market participants are waiting with bated breath for word from the FOMC on additional easing measures to help deal with contagion from the Eurozone crisis. Many expected the Fed to expand 'operation twist', which is essentially adjusting the Fed's balance sheet to extend the average maturity of its holdings of securities.
The announcement from the Fed is expected at 12:30PM ET with Fed Chairman Ben Bernanke's news conference expected at 2:15PM ET.
In addition to expanding 'operation twist,' the Fed could take a more aggressive approach of expanding the size of its balance sheet with a new bond buying program. The Fed could also decide to do nothing at all and remain in a 'wait and see' mode.
Into the open, S&P 500 and Dow futures are up slightly. Gold futures are down about $18 and oil is flat.
The announcement from the Fed is expected at 12:30PM ET with Fed Chairman Ben Bernanke's news conference expected at 2:15PM ET.
In addition to expanding 'operation twist,' the Fed could take a more aggressive approach of expanding the size of its balance sheet with a new bond buying program. The Fed could also decide to do nothing at all and remain in a 'wait and see' mode.
Into the open, S&P 500 and Dow futures are up slightly. Gold futures are down about $18 and oil is flat.
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