Fed faces big decision over a few choice words

CNBC reports:

Federal Reserve officials will decide this week whether to make a critical change to their policy statement that would widen the door for interest rate hikes next year and effectively bet the United States will continue to shine in a gloomy global economy.

In one of the last major wild cards for financial markets in 2014, the U.S. central bank's policy-setting committee is to issue the statement and fresh economic forecasts on Wednesday at 2 p.m. ET, following a two-day meeting. Fed Chair Janet Yellen will then hold a news conference at 2:30 p.m.

The central planners meet.