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Sept 19 - U.S. stock index futures inched higher on Tuesday ahead of a Federal Reserve monetary policy meeting and as investors awaited grocery delivery app Instacart's Nasdaq debut to assess a potential recovery in the IPO market.
Investors are also focused on the two-day Fed meeting that will start later in the day, with the central bank expected to hold benchmark interest rate at the current 5.25%-5.50% range on Wednesday. "Central banks should pause here and wait and see the impact of what they have already done rather than risk serious damage to the economy."
Traders have fully priced in a pause by the Fed on Wednesday, with a 71% likelihood of interest rates remaining unchanged in November, according to CME's FedWatch tool.
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