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What's really terrifying the Fed?

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Investors can get ready to say goodbye to QE. When the FOMC concludes its meeting on Wednesday, London-based investor Bill Blain thinks we'll see the end of the central bank's taper of asset purchases. 

But he thinks the Fed will still remain cautious and is not going to change its time outlook in order to avoid the turmoil we saw mid-October. Bill says this puts markets in a difficult place as everyone has jumped into stock markets and are buying as they "know central banks will be there with support".

So what does this mean for investors? At the moment, Bill favours the USD, but he thinks markets have lost enthusiasm for the end of this year. He thinks it's now going to be about waiting for next year, which is going to be "another buy dollar kind of year".