At this point, there is little left for the Fed to do other than talk about how it should be talking about the markets and economy. The central bank's policy committee gets together Tuesday, and the only news of note that might come from the meeting are possible changes to the Fed's communications strategy.
Call it QY: Quantitative yakking.
According to the minutes of the Fed's last meeting in early November, policymakers discussed "potential approaches for enhancing the clarity of their public communications." That could include specific targets for inflation and more details about when the Fed may change interest rates.