Rates held steady Tuesday as the Fed began its two-day FOMC meeting to discuss monetary policy. This morning, the August Producer Price Index (PPI) was unchanged from July, matching forecast. The more closely watched “Core” PPI, which excludes volatile food and energy components, rose 0.1%, in line with expectations, and was a tame 1.6% higher than one year ago. No other key data will be released today. The Fed will issue a policy statement tomorrow at 2:00 PM. Investors will be looking for any change in language regarding the likely timing of future rate increases.