Standard & Poor`s is cutting its growth forecast for the U.S. by half a percent for 2014. The agency now sees GDP coming in at 2.6 percent next year. S&P also says it sees the Federal Reserve gradually pulling back on its bond buying program. Wall Street is also starting to believe the Fed will start that pull back next week at the final policy meeting this year.
Steve Liesman has more and what it could mean for the markets and the economy.