GDP forecast to slow sharply.

GDP data for Q4 is due out this morning, with economists estimating that growth slowed from 3.1% on year in Q3 to 1.1%, which would be the weakest in almost two years. The softening is attributed to falling inventories and declining exports. The data will come ahead of a FOMC policy announcement later, when the Fed is expected to maintain its asset buying at $85B a month and keep its commitment to hold interest rates close to zero until unemployment drops to 6.5%.