The Federal Reserve is expected to raise interest rates by a quarter point Wednesday and signal it will not be pushing rates higher as much as it had previously forecast. Strategists say that may soothe volatile financial markets, but the Fed has a tough task in explaining its actions in a way that will not sound too alarmist about the economy or too unconcerned about deteriorating financial conditions. The Fed is seen as likely to take the fed funds rate range to 2.25 to 2.50 percent and to remove language in its post-meeting statement that says it will continue with “gradual” rate increases. The Fed has said it ... (full story)