The main U.S. equity indexes traded lower Tuesday but remained near all-time highs heading into the climactic second day of a much-anticipated Federal Open Market Committee meeting. Incoming data indicate the all-important American consumer is still healthy despite signs of weakness in the labor market.
The outcome is hardly in doubt – the target range for the federal funds rate is headed lower from its current 4.25% to 4.50% – but it could be "one of the strangest in years," says Nick Timiraos of The Wall Street Journal.
