Nicholas Colas, chief market strategist at Convergence Group said investors should assume that Bernanke will "tread a middle path" during any possible announcement later this week.
“I think the bar is set very high for how he balances that message so we all feel that, yes, the Fed is going to keep interest rates sufficiently low to help the economy move forward, but not so strident that we worry that the recession is just around the corner,” Colas said.
He added that for the near term he thinks equities are oversold. He expects a move back into equities, and out of bonds and commodities.
Colas also said he thinks gold , which dropped about 3.8 percentin volatile trade on Wednesday, is overbought, and there is more volatility ahead.
"I think of gold as like car insurance," Colas said. If you own a car, you own some insurance, but you don’t make it the cornerstone of your investment strategy."
CNBC Data Pages:
CNBC's Companies in the News:
Time Warner Cable
Disclosure information was not available for Nicholas Colas, Marc Pado or his company.