The Fed's two-day meeting is underway. While the majority of market watchers expect to see a rate hike, some still doubt it'll move. Bobbi Rebell reports.
Janet Yellen arrived at the Fed Tuesday morning to get down to business with her team at their two-day meeting on monetary policy. The vast majority of economists surveyed expect the central bank to raise interest rates. Investment adviser Ross Gerber of Gerber Kawasaki expects the markets to celebrate. SOUNDBITE: ROSS GERBER, PRESIDENT AND CEO, GERBER KAWASAKI (ENGLISH) SAYING: "I think, it will give investors a chance to make some investments into the stock market. I do think, if the Fed passes, it creates again more uncertainty and more volatility, and we are already seeing problems and cracks in the market. So, I think, it would be a mistake for the Fed to miss this opportunity." But that's still possible. Steve Ricchiuto, chief economist at Mizuho USA, says the Fed will punt because economic growth and labor market improvements aren't sustainable. SOUNDBITE: STEVEN RICCHIUTO, CHIEF ECONOMIST, MIZUHO USA (ENGLISH) SAYING: "I think, the Federal Reserve has little risk of doing nothing and a lot more risk of causing problems, especially through the currency and the commodity markets, if they go ahead and move interest rates." The Fed has kept interest rates in a band between zero and 0.25% since December 2008. It will release its statement Wednesday at 2 p.m. eastern. Fed Chair Janet Yellen will hold a press conference half an hour later.