Reading the Fed tea leaves

The Dow and S&P fell again backing away from last week`s record setting highs. Blame it on a new batch of positive reports on jobs, housing and the Fed`s upbeat Beige Book survey on the economy. The takeaway for investors: the Fed will soon begin tapering back its stimulus plans and that might not be good for the markets.

But how does the Federal Reserve see the economy right now as it prepares for its next policy meeting later this month? Steve Liesman takes a look at the bank`s latest Beige Book survey around the country and what that, along with this Friday`s November jobs report, could mean for the future of its stimulus program.

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