From Fender.com:
On many American series guitars, a Micro-Tilt adjustment is offered. It replaces the need for a shim by using a hex screw against a plate installed in the butt end of the neck. The need to adjust the pitch (raising the butt end of the neck in the pocket, thereby pitching the neck back) of the neck occurs in situations where the string height is high and the action adjustment is as low as the adjustment will allow.For guitars with the Micro-Tilt adjustment, loosen the two neck screws on both sides of the adjustment access hole on the neckplate by at least four full turns. Tightening the hex adjustment screw with an 1/8 hex wrench approximately 1/4 turn will allow you to raise the action approximately 1/32. Re-tighten the neck screws when the adjustment is complete. The pitch of the neck on your guitar has been preset at the factory and in most cases will not need to be adjusted.
Good luck!
Bill, tgo