Wall Street dips ahead of Fed announcement – Reuters

Wall Street dips ahead of Fed announcement – Reuters

Dec 15 (Reuters) - U.S. stock indexes dipped on Wednesday ahead of a policy announcement by the Federal Reserve later in the day, as the latest readings on inflation solidified bets of a speedier wind-down of the central bank's pandemic-era monetary stimulus.

The U.S. central bank is widely expected to signal a faster end to its bond-buying campaign and a quicker start to raising interest rates at its meeting. The statement will be released at 2 p.m. ET (1900 GMT), followed by Fed chief Jerome Powell's news conference. read more

Data on Tuesday showed producer prices increased more than expected in the 12 months through November, clocking its largest gain since 2010. Last week's consumer prices data showed the biggest gain in almost four decades. read more