Yellen, future tightening in spotlight as Fed meets

The U.S. Federal Reserve is widely expected to chop another $10 billion from its monthly bond purchases at a meeting on Tuesday and Wednesday but make few, if any, other concrete policy moves. Policymakers, including new Fed Vice Chair Stanley Fischer, will release updated projections for the economy and for when they think rates should finally rise from near zero. They could also surprise investors with more detail on how they plan to eventually shrink the U.S. central bank's swollen balance sheet. The policy-making Federal Open Market Committee (FOMC) kicked off its meeting Tuesday at 10 a.m. Eastern (1400 GMT) with a special discussion on the mechanics of how to raise rates when the time comes, jointly with the Fed's Board of Governors.

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