Here's A One-Sentence Preview Of What The Fed Will Do This Week

"I expect the FOMC to announce a $10 billion decrease in asset purchases, to blame the early year weakness mostly on the weather, and to express some concern about housing and also concern that inflation is too low."

That's from Bill McBride at Calculated Risk, and it's almost certainly exactly what the FOMC will do on Wednesday.

For a longer take, check out Tim Duy's complete FOMC preview.