Reuters quotes portfolio manager Axel Merk's view on how the Federal Reserve (Fed) manages expectations.

" '[Wall Street Journal reporter] Greg Ip, in my assessment, is the person the Fed calls to get a message across. In this case, the message is: lower expectations, so that when we finally get 25 basis points, it's going to be considered a relief, not a non-event,' said Axel Merk, portfolio manager of the $200 million Merk Hard Currency Fund in Palo Alto, California."