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By Gregory Taggart, January 26, 2011 11:55 am

Today, I begin watching the Fed. The FOMC began its January meeting yesterday and ends today. According to Bloomberg,

The FOMC announcement for the January 25-26 FOMC policy meeting is expected to leave the fed funds target rate unchanged at a range of 0 to 0.25 percent. Market focus will be on any update on the current round of quantitative easing and if there are any upgrades on the economy.

The announcement should come later today. Then we’ll see how the consensus holds up.