point interest rate hike at around 1915 GMT. Investors are keen to know whether the central bank would stick with what they have described as a "measured" campaign to move interest rates up. Any indication of more aggressive monetary tightening could feed worries as investors are already questioning the sustainability of U.S. economic growth. "Though most economists expect decent economic and earnings growth over the next year, we expect the rate of growth will be slower than in 2004. Despite this, the Fed is unlikely to ease monetary policy," said strategist Richard Bernstein at Merrill Lynch. "This combination of slower growth and higher short-term interest rates has two implications: First, it makes the U.S. stock market look fragile. Second, it suggests a significant outperformance of assets that offer a secure income as investors become more risk-averse." After a report showed the U.S. trade deficit hit a record in October, the dollar slipped briefly. However, the greenback recovered as the market shifted its focus to the Federal Reserve's statement, hoping that higher rates will make U.S. assets more attractive. --More 2242 Local Time 1942 GMT
