US STOCKS-Futures flat as investors hold off ahead of Fed meeting
* Futures: Dow up 9 pts, S&P unchanged, Nasdaq up 4 pts
By Tanya Agrawal
Sept 16 (Reuters) - U.S. stock index futures were little changed on Wednesday as investors held off on making big bets ahead of the two-day Federal Reserve meeting that will decide on an interest rate hike.
* All eyes will be on the Fed as it begins its meeting later on Wednesday and holds a conference on Thursday, when it will announce if it will raise long-term interest rates for the first time since June 2006.
* Speculation about when the Fed will end seven years of near-zero interest rates has dogged Wall Street for several months, with the picture complicated by recent market turbulence that some see as justification for the central bank to hold off.
* Stocks have been volatile since China devalued its currency in August. The S&P 500 has had moves of at least 1 percent in 12 of the past 18 sessions.
* The Fed has said it will raise rates only when it sees a sustained recovery in the economy with special emphasis on the labor market and inflation. While the job market has continued to gain strength, inflation remains below the 2 percent target set by the central bank.
* Another gauge of inflation will be the U.S. Consumer Price Index for August due at 8:30 a.m. ET (1230 GMT), which is expected to have remained unchanged.
* The dollar index was up marginally at $95.69, off a two-week low struck on Monday, after upbeat consumer spending data released on Tuesday kept alive expectations the Fed would raise interest rates. Continuación...