US futures edge higher as Fed meets in Washington

(AP) U.S. stock futures are heading higher with the Federal Reserve expected to maintain record-low interest rates and other measures to keep the economy tracking toward a recovery.

The Fed kicks off a two-day meeting Tuesday, and will issue a statement and update economic forecasts Wednesday.

Dow Jones industrial futures are up 7 points to 14,397. The broader S&P futures have added 0.90 points to 1,547.70. Nasdaq futures are up 1.5 points to 2,788.50.

U.S. futures are bucking global markets, which are still rattled by a grab for personal bank savings in Cyprus.

The tiny island nation in the Mediterranean roiled markets this week, announcing hefty taxes on banking accounts over the weekend in a bid to steady its ailing banks and to secure an international bailout.