Optimism swept over investors following the September Federal Open Market Committee (FOMC) meeting, but don't expect the same when this month's two-day Fed meeting wraps up tomorrow (Wednesday).
In fact, don't expect much of anything. No surprises and nothing new are expected.
It's widely agreed that the historic low interest rates won't be raised anytime soon, and there will be no grand announcements of any further game-changing stimulus programs like the Sept. 13 QE3 statement.
No new policy measures are forecast either, as focus has shifted to the Nov. 6 presidential election. Minutes from the meeting will be released Nov. 15, after ballots are cast.
This month's meeting will be more ho-hum and about discussions not delivery.
"The Fed has entered a holding pattern while watching for signs of a substantial improvement in the labor market," Ellen Zentner, senior U.S. economist for Nomura Securities told MarketWatch.