The Federal Reserve is expected to announce a more rapid transition away from its easy policies after its meeting Wednesday, as it sets the stage for the first interest rate hike next year.
The Fed is also likely to provide a new description of how it views inflation, and acknowledge that it no longer views it as transitory.
One wild card that market pros are watching closely is what the Fed says about its $8.7 trillion balance sheet and whether it tips when it might start to shrink it.
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