Elizabeth Frantz/Reuters
- US stocks slipped Wednesday ahead of the Federal Reserve's interest rate hike decision.
- Investors expect policymakers to raise rates by 25 basis points, which would mark the eight consecutive hike since last March.
- Meanwhile, ADP announced private payrolls grew by 106,000 in January, below expectations.
US stocks slipped Wednesday ahead of the Federal Reserve's interest rate decision, which is expected to mark the eighth consecutive increase since last March.
Markets are broadly anticipating policymakers to announce a 25-basis-point hike at 2:00 p.m. ET, representing a further step down in the pace of tightening. In December, the Fed raised rates by 50 basis points after four straight hikes of 75 basis points.