Asian stocks seesaw as traders hold breath before Fed meeting

Asian stocks seesaw as traders hold breath before Fed meeting

Fed Chairman Jerome Powell is expected later on Wednesday to reaffirm that easy monetary policy will remain in place for a prolonged period and dismiss any suggestions of tapering bond purchases. 

U.S. President Joe Biden will also address a joint session of Congress, where he may make additional comments about infrastructure and stimulus spending. 

These developments would normally be a positive for stocks, but analysts say so much economic optimism is already priced into the equity market that it is difficult to buy stocks further from current levels.