Market participants are bracing themselves for a change in language by the Fed, expecting the committee to adapt a more hawkish tone. While the Fed may tweak its wording slightly, in an effort to give it some more maneuvering room early next year, my bet is that the overall tone will remain consistent with previous statements. Given that investors like to overreact to Fed statements, take advantage of any potential selloff. The trade With third-quarter earnings season approaching rapidly, growth-oriented investors should take advantage of any Fed-related or geopolitically driven selloff by adding to higher-beta growth names. Biotech and large-cap technology shares are expected to show the best earnings growth and could, therefore, become a great short-term trade. Selling covered calls on utility and telecom stocks may also be attractive for more income-seeking investors. This week's market-moving eventsMonday: 8:30 a.m., Empire State manufacturing index, followed by the 9:15 a.m. release of industrial production dataTuesday: The FOMC meeting kicks off, producer price index is released, along with the Redbook reportWednesday: The FOMC meeting concludes with the release of Fed minutes and chairwoman's conference at 2:00 p.m. Consumer price index, housing and mortgage-application data are reported.Thursday: Housing starts, jobless claims and the Philly Fed survey are releasedFriday: German producer price index and the Atlanta Fed business inflation expectations are released before the open, followed by leading indicators. via marketwatch