Standard poors 500 index up onehalf of 1 . 1704, close to an alltime high. Dow and s p 500 closing in on alltime high. Bob pisani, something tells me the move might be bigger after the feds meeting. The question is, higher or lower . I think it will be higher. I think theyll thread the needle on that one. Put up the screen. The important thing is overall right now, the markets are expecting a modest taper. I think theyll probably deliver on that. Everyone believes, everyone down here, everyone i talked to, believes this is not a decision purely on economics. If it was, it would be a tough call on whether to taper or not. Most people believe mr. Bernanke wants to begin to taper while hes still in office. And that the cost of qe is now starting to y ing ting to outwe benefits. What have been the benefits . Modest gdp growth and a lift if asset prices. The cost of dislocation in bonds has been noticeable and emerging markets as well. Bernanke says hell persist with qe as long as the benef