Fed Rate Announcement Due Wednesday []

Wednesday's only major economic new is the Fed announcement that is expected early in the afternoon. Information on weekly petroleum stockpiles will also be released in the morning.The rate announcement from the Federal Reserve is due Wednesday afternoon at the end of the FOMC's two-day meeting. The markets will be waiting anxiously for the announcement, though the central bank is expected to leave rates unchanged once again. Going into the meeting, most economic data pointed to an economic slow down, which could allow the Fed to cut rates sometime soon. However, a recent report indicated a rise in wholesale inflation in February, a fact which could keep the central bank on inflation watch and prevent any chance of a rate reduction.