As the Federal Reserve begins a high-profile policy meeting on Tuesday, expect the bank to issue a gloomy outlook, according to Reuters Correspondent Mark Felsenthal.
The Fed may have dodged a bullet on Greece but it still happens principal at home when it begins its two day policy meeting. Analysts are still split on whether the Central Bank will ease monetary policy further to steal the fragile recovery. One possible choice -- and Operation Twist which is set to expire soon. Reuters correspondent mark tell them -- says whatever happens don't expect much optimism. They are going to come out with new forecasts and those forecasts will probably reflect a slightly gloomier view of the outlook in addition to the turmoil in Greece. They're looking at risks from the fact that the United States has this so called fiscal cliff at the end of the year. And that's some of the data have been coming in weaker than expected. Outspoken JPMorgan boss Jamie Dimon is likely to stick to his guns when he testifies before house panel. On the base two billion dollar trading losses. Last time he was on the hill -- apologized to shareholders. But was skeptical about further regulation of the financial sector. -- -- -- -- easy crowd at the Spanish but could take a tougher time with questions from representatives. Lawmakers will also hear from the SEC's Mary Schapiro and DC FTC's Gary Gensler. Investors will want to know -- FedEx will manage its cost cutting when it reports results before the open is expected to see higher earnings despite falling shipping volumes. -- is already in the middle of an aircraft fleet overhaul and could announce. Pilot furloughs the world's number two package delivery company will also give its latest update on the health of the economy. Is -- two for one for all you've got ahead went housing starts and building permits are released in the morning. I -- -- both should show a gradual rise with more multi unit construction on higher rents. Well the eurozone reels from one crisis to another -- image of the day is from the drama at the European soccer's championship. These pictures of the Croatian and Spanish and show that supporters can be pretty flamboyant. And Spain wins it could be in battle of the future bailouts as they might face off against Italy. Glitter not those guys dressed as -- how are you rooting for pain. And for Morita had coverage be sure to follow us on Twitter at greater insider also check out our TV channel at Reuters dot com slash Reuters TV. I'm pretty mom this is for years.